OceanaGold (TSE:OGC) Reaches New 12-Month High – Here’s Why

OceanaGold Co. (TSE:OGC) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$5.29 and last traded at C$5.24, with a volume of 2176571 shares. The stock had previously closed at C$5.03.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Raymond James increased their target price on shares of OceanaGold from C$5.50 to C$6.50 in a research report on Friday, April 4th. BMO Capital Markets cut their price objective on shares of OceanaGold from C$6.25 to C$5.75 in a report on Thursday, February 20th. TD Securities cut OceanaGold from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 27th. National Bank Financial raised OceanaGold to a “strong-buy” rating in a report on Friday, March 21st. Finally, Scotiabank boosted their price objective on OceanaGold from C$6.00 to C$6.25 in a research note on Wednesday, January 15th. One analyst has rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of C$5.75.

OceanaGold Price Performance

The company has a market cap of C$2.59 billion, a price-to-earnings ratio of 42.33 and a beta of 1.62. The firm has a 50 day simple moving average of C$4.39 and a 200-day simple moving average of C$4.20.

Insider Buying and Selling

In other OceanaGold news, Senior Officer Liang Tang sold 50,000 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of C$4.38, for a total transaction of C$219,000.00. Corporate insiders own 0.15% of the company’s stock.

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.