CIBC Boosts OceanaGold (TSE:OGC) Price Target to C$6.00

OceanaGold (TSE:OGC) had its price target upped by equities research analysts at CIBC from C$4.50 to C$6.00 in a research note issued on Monday,BayStreet.CA reports. CIBC’s price target would indicate a potential upside of 35.44% from the company’s previous close.

Several other brokerages have also recently issued reports on OGC. National Bankshares reduced 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. Royal Bank of Canada upped their target price on shares of OceanaGold from C$5.00 to C$5.50 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Finally, Scotiabank upped their target price on shares of OceanaGold from C$4.75 to C$6.00 in a research note on Thursday, November 21st. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of C$5.08.

OceanaGold Stock Performance

Shares of OGC traded up C$0.01 during mid-day trading on Monday, hitting C$4.43. 294,594 shares of the company’s stock were exchanged, compared to its average volume of 1,475,945. The company has a market cap of C$3.15 billion, a price-to-earnings ratio of 443.00 and a beta of 1.62. OceanaGold has a fifty-two week low of C$2.08 and a fifty-two week high of C$4.53. The stock’s 50-day moving average is C$3.99 and its 200-day moving average is C$3.57.

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