OceanaGold (TSE:OGC) Hits New 1-Year High – Still a Buy?

OceanaGold Co. (TSE:OGC)’s stock price reached a new 52-week high during trading on Friday . The company traded as high as C$5.03 and last traded at C$5.03, with a volume of 597202 shares traded. The stock had previously closed at C$4.70.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. TD Securities lowered OceanaGold from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 27th. BMO Capital Markets decreased their target price on OceanaGold from C$6.25 to C$5.75 in a research note on Thursday, February 20th. Scotiabank lifted their target price on OceanaGold from C$6.00 to C$6.25 in a research report on Wednesday, January 15th. CIBC reduced their price target on shares of OceanaGold from C$6.00 to C$5.75 in a research report on Friday, December 13th. Finally, Raymond James raised their price objective on shares of OceanaGold from C$5.50 to C$6.50 in a research note on Friday, April 4th. One analyst has rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$5.75.

OceanaGold Trading Up 6.8 %

The firm has a 50 day moving average price of C$4.33 and a 200-day moving average price of C$4.15. The firm has a market cap of C$2.49 billion, a PE ratio of 40.71 and a beta of 1.62.

Insider Buying and Selling

In other OceanaGold news, Senior Officer Liang Tang sold 50,000 shares of the firm’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of C$4.38, for a total value of C$219,000.00. 0.15% of the stock is owned by 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.