Oceanagold (NYSE:OGC) Issues Quarterly Earnings Results

Oceanagold (NYSE:OGC) issued its earnings results on Wednesday. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.05, Zacks reports. Oceanagold had a net margin of 35.14% and a return on equity of 36.44%. The company had revenue of $654.90 million during the quarter.

Oceanagold Stock Performance

NYSE OGC traded up $1.59 during trading hours on Thursday, reaching $27.37. The company’s stock had a trading volume of 1,013,354 shares, compared to its average volume of 337,787. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.24 and a current ratio of 1.63. The business’s 50-day moving average price is $27.61. Oceanagold has a fifty-two week low of $20.18 and a fifty-two week high of $43.33. The company has a market cap of $6.03 billion and a PE ratio of 13.75.

Oceanagold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Wednesday, November 18th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, November 18th. Oceanagold’s dividend payout ratio is presently 18.09%.

Wall Street Analysts Forecast Growth

OGC has been the topic of several research analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Oceanagold in a research note on Friday, September 4th. Wall Street Zen downgraded Oceanagold from a “buy” rating to a “hold” rating in a research note on Saturday, October 17th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Oceanagold in a research note on Friday, October 16th. Finally, Zacks Research cut Oceanagold from a “hold” rating to a “strong sell” rating in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

Oceanagold Company Profile

OceanaGold Corporation is a Canadian precious-metals mining company headquartered in Vancouver, British Columbia. The company explores, develops and operates mines that produce gold and, in some operations, copper concentrates.

OceanaGold’s principal assets have included the Haile Gold Mine in South Carolina, the Didipio gold-copper mine in the Philippines, and gold operations in New Zealand, including the Waihi and Macraes mines. Its operations and projects have given the company a presence across North America, Asia and Oceania.

Founded in 2003, OceanaGold has grown through the development and acquisition of producing mines and mineral projects.