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

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

OGC has been the subject of several other research reports. Weiss Ratings restated a “buy (b-)” rating on shares of Oceanagold in a research note on Friday, September 4th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Oceanagold in a report on Friday. Finally, Zacks Research upgraded Oceanagold from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 8th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy”.

Oceanagold Stock Performance

NYSE OGC opened at $26.62 on Friday. Oceanagold has a 52-week low of $20.18 and a 52-week high of $43.33. The stock’s 50-day moving average is $28.69. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.63 and a quick ratio of 1.24.

Oceanagold (NYSE:OGC) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.93 by $0.05. The business had revenue of $647.30 million for the quarter. Oceanagold had a net margin of 35.14% and a return on equity of 36.44%. As a group, analysts anticipate that Oceanagold will post 4.22 earnings per share for the current year.

Oceanagold Announces Dividend

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

Institutional Investors Weigh In On Oceanagold

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nykredit A S purchased a new stake in Oceanagold during the second quarter valued at about $125,000. Vontobel Holding Ltd. bought a new position in Oceanagold during the third quarter worth about $311,000. Engineers Gate Manager LP bought a new position in Oceanagold during the second quarter worth about $337,000. Tidal Investments LLC bought a new position in Oceanagold during the second quarter worth about $355,000. Finally, TD Waterhouse Canada Inc. purchased a new position in shares of Oceanagold in the second quarter worth about $584,000.

About Oceanagold

OceanaGold Corporation is a Canadian precious-metals mining company headquartered in Vancouver, British Columbia. The company explores, develops and operates mines that produce gold and, in some operations, copper concentrates.

OceanaGold’s principal assets have included the Haile Gold Mine in South Carolina, the Didipio gold-copper mine in the Philippines, and gold operations in New Zealand, including the Waihi and Macraes mines. Its operations and projects have given the company a presence across North America, Asia and Oceania.

Founded in 2003, OceanaGold has grown through the development and acquisition of producing mines and mineral projects.