OceanaGold (TSE:OGC) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

OceanaGold (TSE:OGC - Free Report) had its price objective lifted by Royal Bank of Canada from C$7.00 to C$8.00 in a research report released on Tuesday morning,BayStreet.CA reports.

Several other equities research analysts have also recently issued reports on OGC. TD Securities cut shares of OceanaGold from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 27th. BMO Capital Markets cut their price target on OceanaGold from C$6.25 to C$5.75 in a research note on Thursday, February 20th. Raymond James upped their price objective on OceanaGold from C$5.50 to C$6.50 in a research report on Friday, April 4th. Finally, National Bank Financial upgraded OceanaGold to a "strong-buy" rating in a report on Friday, March 21st. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of C$5.97.

OceanaGold Trading Down 1.4%

TSE:OGC traded down C$0.09 during mid-day trading on Tuesday, hitting C$6.56. The stock had a trading volume of 3,183,978 shares, compared to its average volume of 2,179,934. OceanaGold has a twelve month low of C$2.95 and a twelve month high of C$6.87. The stock has a 50-day simple moving average of C$5.37 and a two-hundred day simple moving average of C$4.61. The company has a market capitalization of C$3.26 billion, a PE ratio of 53.20 and a beta of 1.62.

Insiders Place Their Bets

In other news, Director Ian Macnevin Reid acquired 26,000 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was acquired at an average cost of C$5.63 per share, with a total value of C$146,380.00. Also, Senior Officer Liang Tang sold 50,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of C$4.38, for a total transaction of C$219,000.00. Corporate insiders own 0.15% of the company's stock.

About OceanaGold

OceanaGold Corporation, a gold and copper producer, engages in exploration, development, and operation of mineral properties in the United States, the Philippines, and New Zealand. It explores for gold, copper, and silver deposits. OceanaGold Corporation was founded in 2003 and is based in Vancouver, Canada.