Oceanagold (NYSE:OGC) Downgraded by Wall Street Zen to Buy

Wall Street Zen lowered shares of Oceanagold (NYSE:OGC) from a strong-buy rating to a buy rating in a report published on Saturday morning.

Other equities analysts have also recently issued reports about the stock. Weiss Ratings cut shares of Oceanagold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Scotiabank upgraded shares of Oceanagold to a “strong-buy” rating in a research report on Thursday, May 14th. Jefferies Financial Group upgraded shares of Oceanagold to a “strong-buy” rating in a report on Tuesday, June 9th. Finally, Zacks Research lowered shares of Oceanagold from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Oceanagold presently has an average rating of “Buy”.

Oceanagold Stock Up 1.0%

Shares of OGC stock opened at $31.03 on Friday. Oceanagold has a 12 month low of $16.50 and a 12 month high of $43.33. The company has a current ratio of 1.63, a quick ratio of 1.24 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $6.90 billion and a price-to-earnings ratio of 15.59. The stock’s 50 day simple moving average is $25.85.

Oceanagold (NYSE:OGC) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.05. Oceanagold had a net margin of 35.14% and a return on equity of 36.44%. The business had revenue of $647.30 million for the quarter. As a group, equities analysts predict that Oceanagold will post 4.16 EPS for the current fiscal year.

Oceanagold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Wednesday, August 19th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 19th. Oceanagold’s dividend payout ratio (DPR) is presently 18.09%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of OGC. Nykredit A S bought a new position in Oceanagold in the second quarter worth $125,000. TD Waterhouse Canada Inc. acquired a new stake in Oceanagold during the second quarter worth $584,000. Bank of New York Mellon Corp bought a new stake in Oceanagold in the 2nd quarter valued at $1,701,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Oceanagold in the 2nd quarter valued at $14,465,000.

About Oceanagold

OceanaGold Corporation is a gold and copper mining company that explores for, develops, and operates precious metals projects. The company’s portfolio includes producing mines and development assets, with a focus on the extraction and processing of gold and copper from its owned and operated operations.

Founded in 1989, OceanaGold has built a business centered on long-life mineral assets and responsible mining practices. Its operations have historically been located in the Asia-Pacific region, including New Zealand, the Philippines, and the United States, giving it exposure to several established mining jurisdictions.

The company is headquartered in Vancouver, Canada.