Oceanagold (NYSE:OGC) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Oceanagold (NYSE:OGC) from a buy rating to a hold rating in a report issued on Saturday,Wall Street Zen reports.

A number of other research analysts have also recently commented on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Oceanagold in a research report on Friday, September 4th. Zacks Research upgraded shares of Oceanagold from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 8th. Finally, Jefferies Financial Group raised shares of Oceanagold to a “strong-buy” rating in a report on Tuesday, June 9th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy”.

Oceanagold Price Performance

Shares of NYSE:OGC opened at $27.94 on Friday. The firm has a market capitalization of $6.19 billion and a P/E ratio of 14.04. Oceanagold has a 1 year low of $19.55 and a 1 year high of $43.33. The company has a quick ratio of 1.24, a current ratio of 1.63 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $27.63.

Oceanagold (NYSE:OGC) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.05. The firm had revenue of $647.30 million during the quarter. Oceanagold had a return on equity of 36.44% and a net margin of 35.14%. On average, sell-side analysts anticipate that Oceanagold will post 4.17 EPS for the current fiscal year.

Oceanagold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Wednesday, August 19th were paid a $0.09 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $0.36 annualized dividend and a dividend yield of 1.3%. Oceanagold’s dividend payout ratio (DPR) is presently 18.09%.

Hedge Funds Weigh In On Oceanagold

Institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company bought a new stake in shares of Oceanagold during the 2nd quarter worth $15,332,000. Sequoia Financial Advisors LLC bought a new position in Oceanagold in the second quarter valued at about $603,000. Tidal Investments LLC acquired a new position in Oceanagold during the second quarter worth about $355,000. Engineers Gate Manager LP acquired a new position in Oceanagold during the second quarter worth about $337,000. Finally, Nykredit A S bought a new position in shares of Oceanagold in the second quarter worth about $125,000.

Oceanagold Company Profile

OceanaGold Corporation is a mid-tier gold producer headquartered in Vancouver, Canada. The company explores for, develops and operates gold and copper-gold properties, with operations spanning North America, the Asia-Pacific region and Oceania. Its products primarily include gold, with silver and copper produced as byproducts at certain operations.

OceanaGold’s operating portfolio includes the Haile Gold Mine in South Carolina, the Didipio gold-copper mine in the Philippines, and the Macraes and Waihi operations in New Zealand.