Oceanagold (NYSE:OGC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Oceanagold (NYSE:OGC) from a hold rating to a buy rating in a research note published on Saturday morning,Wall Street Zen reports.

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

Oceanagold Stock Performance

Shares of Oceanagold stock opened at $26.66 on Friday. The stock’s 50-day moving average is $28.48. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.24 and a current ratio of 1.63. Oceanagold has a one year low of $20.18 and a one year high of $43.33. The firm has a market capitalization of $5.90 billion and a P/E ratio of 13.39.

Oceanagold (NYSE:OGC) last issued its earnings results 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. Oceanagold had a net margin of 35.14% and a return on equity of 36.44%. The firm had revenue of $647.30 million for the quarter. On average, sell-side analysts predict that Oceanagold will post 4.17 earnings per share for the current fiscal year.

Oceanagold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Wednesday, August 19th were issued a C$0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Wednesday, August 19th. Oceanagold’s dividend payout ratio is 18.09%.

Institutional Trading of Oceanagold

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allianz Asset Management GmbH purchased a new stake in shares of Oceanagold during the 2nd quarter worth approximately $63,741,000. Groupe la Francaise purchased a new position in shares of Oceanagold in the 2nd quarter valued at $19,560,000. The Manufacturers Life Insurance Company purchased a new position in shares of Oceanagold in the 2nd quarter valued at $15,332,000. Public Employees Retirement System of Ohio acquired a new stake in Oceanagold during the 2nd quarter worth $14,465,000. Finally, Bank of New York Mellon Corp acquired a new stake in Oceanagold during the 2nd quarter worth $1,701,000.

Oceanagold Company Profile

OceanaGold Corporation is a multinational mining company focused on the exploration, development and operation of gold and copper assets. Its primary products are gold and copper concentrates, which are produced through open-pit and underground mining operations.

The company operates the Haile Gold Mine in South Carolina, the Didipio gold-copper mine in the Philippines, and the Macraes and Waihi gold operations in New Zealand. It also maintains exploration and development activities intended to extend mine lives and identify additional mineral resources in the regions where it operates.

OceanaGold has a history dating to the 1990s and is headquartered in Vancouver, Canada.