Raymond James Comments on OceanaGold Co.’s Q2 2024 Earnings (TSE:OGC)

OceanaGold Co. (TSE:OGC) – Stock analysts at Raymond James upped their Q2 2024 EPS estimates for shares of OceanaGold in a research note issued to investors on Tuesday, April 23rd. Raymond James analyst F. Hamed now forecasts that the company will post earnings per share of $0.10 for the quarter, up from their prior forecast of $0.04. The consensus estimate for OceanaGold’s current full-year earnings is $0.30 per share. Raymond James also issued estimates for OceanaGold’s FY2024 earnings at $0.44 EPS.

Other research analysts have also recently issued reports about the company. CIBC raised their target price on OceanaGold from C$4.50 to C$5.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. 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 report on Monday, April 22nd. Canaccord Genuity Group lifted their price objective on OceanaGold from C$4.00 to C$4.25 in a research report on Tuesday. Cormark decreased their target price on shares of OceanaGold from C$3.25 to C$3.00 in a research note on Monday, February 26th. Finally, National Bankshares lowered their price target on shares of OceanaGold from C$4.00 to C$3.75 in a report on Friday, February 23rd. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of C$4.08.

OceanaGold Stock Up 2.2 %

Shares of OGC opened at C$3.20 on Friday. The company has a market capitalization of C$2.26 billion, a price-to-earnings ratio of 20.00 and a beta of 1.50. OceanaGold has a one year low of C$2.08 and a one year high of C$3.50. The business has a fifty day moving average price of C$2.88.

OceanaGold (TSE:OGC) last posted its earnings results on Wednesday, February 21st. The company reported C$0.01 EPS for the quarter, missing analysts’ consensus estimates of C$0.02 by C($0.01). The company had revenue of C$363.94 million during the quarter. OceanaGold had a return on equity of 4.88% and a net margin of 8.10%.

Insiders Place Their Bets

In related news, Director Paul Benson bought 44,400 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were purchased at an average price of C$2.25 per share, with a total value of C$99,678.00. Corporate insiders own 0.14% of the company’s stock.

OceanaGold Announces Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Friday, April 26th. Stockholders of record on Thursday, March 7th were given a dividend of $0.013 per share. The ex-dividend date was Wednesday, March 6th. OceanaGold’s payout ratio is 18.75%.

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.