OceanaGold (TSE:OGC) Hits New 1-Year High – Here’s Why

OceanaGold Co. (TSE:OGC) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$6.21 and last traded at C$6.20, with a volume of 1248616 shares traded. The stock had previously closed at C$6.07.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on OGC shares. Raymond James upped their price target on OceanaGold from C$5.50 to C$6.50 in a research note on Friday, April 4th. TD Securities lowered shares of OceanaGold from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 27th. BMO Capital Markets dropped their price objective on shares of OceanaGold from C$6.25 to C$5.75 in a research note on Thursday, February 20th. Finally, National Bank Financial upgraded shares of OceanaGold to a “strong-buy” rating in a research report on Friday, March 21st. One research analyst has rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of C$5.75.

OceanaGold Stock Up 1.5%

The company’s 50 day moving average price is C$5.05 and its two-hundred day moving average price is C$4.46. The firm has a market cap of C$3.06 billion, a PE ratio of 49.96 and a beta of 1.62.

Insider Buying and Selling at OceanaGold

In other OceanaGold news, Director Ian Macnevin Reid acquired 26,000 shares of OceanaGold stock in a transaction that occurred on Thursday, May 15th. The stock was bought at an average price of C$5.63 per share, with a total value of C$146,380.00. Also, Senior Officer Liang Tang sold 50,000 shares of the company’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 corporate 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.