OceanaGold (TSE:OGC) Price Target Raised to C$65.00

OceanaGold (TSE:OGC) had its price target boosted by Desjardins from C$63.00 to C$65.00 in a research report report published on Friday,BayStreet.CA reports. They currently have a buy rating on the stock.

Other analysts also recently issued reports about the company. Scotiabank lifted their price target on OceanaGold from C$44.00 to C$65.00 in a research note on Monday, January 26th. Jefferies Financial Group upped their target price on OceanaGold from C$45.00 to C$53.00 in a research note on Monday, January 19th. TD Securities lifted their price target on shares of OceanaGold from C$38.00 to C$56.00 in a report on Thursday, January 22nd. Finally, Canadian Imperial Bank of Commerce increased their target price on OceanaGold from C$50.00 to C$66.00 in a research report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of C$49.88.

OceanaGold Stock Up 4.4%

Shares of TSE:OGC opened at C$54.47 on Friday. The stock has a market cap of C$12.44 billion, a price-to-earnings ratio of 31.85 and a beta of 1.94. The firm’s 50 day moving average price is C$45.13 and its 200 day moving average price is C$35.49. OceanaGold has a fifty-two week low of C$10.86 and a fifty-two week high of C$54.82.

OceanaGold (TSE:OGC) last released its quarterly earnings data on Wednesday, February 18th. The company reported C$1.21 earnings per share for the quarter. OceanaGold had a net margin of 5.86% and a return on equity of 3.82%. The company had revenue of C$870.81 million for the quarter. On average, equities analysts anticipate that OceanaGold will post 0.6283048 EPS for the current year.

OceanaGold announced that its Board of Directors has authorized a share buyback program on Wednesday, February 18th that allows the company to buyback $350.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 2.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.

About OceanaGold

OceanaGold is a growing intermediate gold and copper producer committed to safely and responsibly maximizing the generation of Free Cash Flow from our operations and delivering strong returns for our shareholders. We have a portfolio of four operating mines: the Haile Gold Mine in the United States of America; Didipio Mine in the Philippines; and the Macraes and Waihi operations in New Zealand.