OceanaGold (TSE:OGC) Given New C$66.00 Price Target at CIBC

OceanaGold (TSE:OGC) had its target price boosted by CIBC from C$50.00 to C$66.00 in a note issued to investors on Wednesday,BayStreet.CA reports. CIBC’s target price would indicate a potential upside of 37.33% from the company’s current price.

OGC has been the topic of several other reports. TD Securities upped their price target on OceanaGold from C$38.00 to C$56.00 in a research report on Thursday, January 22nd. Jefferies Financial Group upped their price objective on shares of OceanaGold from C$45.00 to C$53.00 in a research note on Monday, January 19th. Desjardins set a C$50.00 price target on shares of OceanaGold and gave the stock a “buy” rating in a research note on Friday, November 28th. Finally, Scotiabank lifted their price objective on OceanaGold from C$44.00 to C$65.00 in a research report on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. Based on data from MarketBeat.com, OceanaGold currently has an average rating of “Buy” and a consensus target price of C$44.58.

OceanaGold Stock Performance

Shares of OGC traded up C$0.07 during trading hours on Wednesday, hitting C$48.06. The stock had a trading volume of 438,074 shares, compared to its average volume of 647,272. The firm has a market cap of C$10.98 billion, a P/E ratio of 28.11 and a beta of 1.94. The company’s fifty day simple moving average is C$41.39 and its 200 day simple moving average is C$32.64. OceanaGold has a 12-month low of C$10.86 and a 12-month high of C$54.02.

OceanaGold (TSE:OGC) last released its quarterly earnings data on Wednesday, November 5th. The company reported C$0.40 earnings per share (EPS) for the quarter. OceanaGold had a net margin of 5.86% and a return on equity of 3.82%. The company had revenue of C$624.50 million during the quarter. As a group, sell-side analysts predict that OceanaGold will post 0.6283048 earnings per share for the current fiscal year.

OceanaGold Company Profile

OceanaGold is a growing intermediate gold and copper producer committed to safely and responsibly maximizing the generation of Free Cash Flow from our operations and delivering strong returns for our shareholders. We have a portfolio of four operating mines: the Haile Gold Mine in the United States of America; Didipio Mine in the Philippines; and the Macraes and Waihi operations in New Zealand.