OceanaGold (TSE:OGC) Stock Price Expected to Rise, Scotiabank Analyst Says

OceanaGold (TSE:OGC - Free Report) had its price objective raised by Scotiabank from C$6.50 to C$20.50 in a research report released on Tuesday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other brokerages have also recently issued reports on OGC. Raymond James Financial upped their target price on shares of OceanaGold from C$16.50 to C$19.50 in a research report on Friday, April 4th. TD Securities downgraded OceanaGold from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 27th. Royal Bank Of Canada raised their price objective on OceanaGold from C$21.00 to C$24.00 in a research note on Tuesday, June 3rd. Finally, National Bank Financial raised OceanaGold to a "strong-buy" rating in a research report on Friday, March 21st. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of C$18.61.

OceanaGold Trading Down 5.2%

OGC traded down C$1.03 during trading hours on Tuesday, hitting C$18.65. The company's stock had a trading volume of 336,417 shares, compared to its average volume of 743,597. The stock has a market cap of C$9.27 billion, a price-to-earnings ratio of 151.24 and a beta of 1.62. The business's 50-day moving average price is C$17.68 and its 200-day moving average price is C$14.47. OceanaGold has a 12 month low of C$8.94 and a 12 month high of C$21.21.

Insider Activity

In other news, Director Ian Macnevin Reid acquired 8,666 shares of OceanaGold stock in a transaction on Thursday, May 15th. The shares were bought at an average cost of C$16.89 per share, for a total transaction of C$146,368.74. Insiders own 0.15% of the company's stock.

OceanaGold Company Profile

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.