Raymond James Increases OceanaGold (TSE:OGC) Price Target to C$5.00

OceanaGold (TSE:OGC) had its target price raised by equities researchers at Raymond James from C$4.50 to C$5.00 in a report issued on Tuesday, BayStreet.CA reports. Raymond James’ price objective points to a potential upside of 65.02% from the stock’s current price. Raymond James also issued estimates for OceanaGold’s Q1 2024 earnings at $0.01 EPS, Q3 2024 earnings at $0.11 EPS and Q4 2024 earnings at $0.11 EPS.

A number of other equities analysts have also weighed in on OGC. Desjardins lifted their price target on shares of OceanaGold from C$3.50 to C$4.00 and gave the company a “buy” rating in a report on Tuesday, January 30th. National Bankshares reduced their target price on OceanaGold from C$4.00 to C$3.75 in a report on Friday, February 23rd. Jefferies Financial Group upped their price target on OceanaGold from C$3.50 to C$4.00 and gave the stock a “buy” rating in a research note on Monday. CIBC lifted their price objective on OceanaGold from C$4.50 to C$5.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Finally, National Bank Financial reissued an “outperform overweight” rating on shares of OceanaGold in a research report on Monday, April 8th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of C$4.08.

OceanaGold Price Performance

OceanaGold stock opened at C$3.03 on Tuesday. The firm has a market capitalization of C$2.14 billion, a price-to-earnings ratio of 18.94 and a beta of 1.50. The firm has a fifty day simple moving average of C$2.86. OceanaGold has a 52 week low of C$2.08 and a 52 week high of C$3.50.

OceanaGold (TSE:OGC) last posted its quarterly earnings results on Wednesday, February 21st. The company reported C$0.01 EPS for the quarter, missing the consensus estimate of C$0.02 by C($0.01). OceanaGold had a net margin of 8.10% and a return on equity of 4.88%. The business had revenue of C$363.94 million during the quarter. As a group, equities research analysts forecast that OceanaGold will post 0.2977737 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Paul Benson bought 44,400 shares of OceanaGold stock in a transaction dated Tuesday, February 27th. The shares were acquired at an average cost of C$2.25 per share, with a total value of C$99,678.00. 0.14% of the stock is owned by company insiders.

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.