Royal Bank of Canada Forecasts Strong Price Appreciation for OceanaGold (TSE:OGC) Stock

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

A number of other research analysts have also recently commented 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. National Bank Financial upgraded shares of OceanaGold to a "strong-buy" rating in a research note on Friday, March 21st. Raymond James upped their target price on shares of OceanaGold from C$5.50 to C$6.50 in a research note on Friday, April 4th. Finally, BMO Capital Markets cut their target price on shares of OceanaGold from C$6.25 to C$5.75 in a research note on Thursday, February 20th. One analyst has rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of C$5.97.

OceanaGold Stock Performance

Shares of OGC stock traded up C$0.05 on Tuesday, hitting C$6.46. 1,370,279 shares of the stock traded hands, compared to its average volume of 2,159,612. The firm's 50-day moving average price is C$5.26 and its two-hundred day moving average price is C$4.55. The stock has a market capitalization of C$3.21 billion, a PE ratio of 52.39 and a beta of 1.62. OceanaGold has a twelve month low of C$2.95 and a twelve month high of C$6.51.

Insider Activity at OceanaGold

In other OceanaGold news, Senior Officer Liang Tang sold 50,000 shares of the business'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. Also, Director Ian Macnevin Reid bought 26,000 shares of the company's stock in a transaction on Thursday, May 15th. The shares were acquired at an average price of C$5.63 per share, for a total transaction of C$146,380.00. 0.15% of the stock is owned by insiders.

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.