OceanaGold (TSE:OGC) Price Target Cut to C$4.50 by Analysts at CIBC

OceanaGold (TSE:OGC) had its price objective reduced by stock analysts at CIBC from C$5.25 to C$4.50 in a research note issued on Thursday,BayStreet.CA reports. CIBC’s price objective suggests a potential upside of 16.58% from the company’s current price.

Other equities analysts also recently issued reports about the company. Jefferies Financial Group raised their price objective on OceanaGold from C$4.00 to C$5.00 in a research report on Friday, July 12th. Desjardins increased their price objective on shares of OceanaGold from C$4.90 to C$5.50 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Scotiabank boosted their target price on shares of OceanaGold from C$4.25 to C$4.75 in a report on Monday, August 19th. National Bankshares cut their price target on shares of OceanaGold from C$6.00 to C$5.50 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Finally, Canaccord Genuity Group lifted their price objective on OceanaGold from C$4.50 to C$5.50 and gave the stock a “strong-buy” rating in a research report on Tuesday, July 23rd. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, OceanaGold presently has a consensus rating of “Buy” and an average price target of C$4.80.

OceanaGold Price Performance

OceanaGold stock traded up C$0.14 during trading hours on Thursday, hitting C$3.86. The company had a trading volume of 574,693 shares, compared to its average volume of 1,467,348. The firm has a 50-day moving average of C$3.81 and a 200 day moving average of C$3.47. The firm has a market cap of C$2.75 billion, a PE ratio of 385.00 and a beta of 1.62. OceanaGold has a one year low of C$2.08 and a one year high of C$4.41.

OceanaGold (TSE:OGC) last released its quarterly earnings results on Wednesday, November 6th. The company reported C$0.12 earnings per share for the quarter, missing the consensus estimate of C$0.14 by C($0.02). OceanaGold had a return on equity of 0.24% and a net margin of 0.10%. The firm had revenue of C$470.93 million for the quarter. As a group, research analysts expect that OceanaGold will post 0.6283048 earnings per share for the current year.

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.