Scotiabank Forecasts Strong Price Appreciation for OceanaGold (TSE:OGC) Stock

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

OGC has been the topic of a number of other research reports. National Bank Financial raised shares of OceanaGold to a "strong-buy" rating in a report on Friday, March 21st. Raymond James Financial raised their target price on shares of OceanaGold from C$16.50 to C$19.50 in a report on Friday, April 4th. TD Securities downgraded shares of OceanaGold from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 27th. Finally, Royal Bank Of Canada increased their price target on OceanaGold from C$21.00 to C$24.00 in a report on Tuesday, June 3rd. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, OceanaGold has a consensus rating of "Buy" and an average price target of C$18.61.

OceanaGold Stock Performance

Shares of OGC stock traded up C$0.06 during mid-day trading on Tuesday, hitting C$19.68. The company's stock had a trading volume of 692,981 shares, compared to its average volume of 747,488. The stock has a market cap of C$9.78 billion, a price-to-earnings ratio of 159.60 and a beta of 1.62. OceanaGold has a 52-week low of C$8.94 and a 52-week high of C$21.21. The business has a 50-day moving average price of C$17.68 and a 200 day moving average price of C$14.47.

Insider Transactions at OceanaGold

In related news, Director Ian Macnevin Reid acquired 8,666 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were purchased at an average price of C$16.89 per share, with a total value of C$146,368.74. 0.15% of the stock is currently owned by company 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.