OceanaGold Co. (TSE:OGC) Given Consensus Recommendation of “Buy” by Analysts

OceanaGold Co. (TSE:OGC) has been given a consensus rating of “Buy” by the five research firms that are currently covering the company, MarketBeat reports. Five analysts have rated the stock with a buy rating. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is C$56.11.

A number of equities research analysts have recently issued reports on OGC shares. Scotiabank upped their price objective on shares of OceanaGold from C$44.00 to C$65.00 in a research note on Monday, January 26th. Canadian Imperial Bank of Commerce upped their price target on shares of OceanaGold from C$66.00 to C$72.00 in a report on Thursday, February 26th. Royal Bank Of Canada upped their price target on shares of OceanaGold from C$52.00 to C$78.00 in a report on Thursday, March 12th. TD upped their price target on shares of OceanaGold from C$55.00 to C$56.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Finally, Desjardins upped their price target on shares of OceanaGold from C$63.00 to C$65.00 and gave the company a “buy” rating in a report on Friday, February 20th.

OceanaGold Price Performance

Shares of TSE:OGC opened at C$39.85 on Friday. The company’s fifty day moving average price is C$44.13 and its 200-day moving average price is C$43.38. The firm has a market capitalization of C$8.92 billion, a price-to-earnings ratio of 12.15 and a beta of 2.54. OceanaGold has a one year low of C$17.76 and a one year high of C$59.20.

OceanaGold (TSE:OGC) last announced its quarterly earnings data on Wednesday, May 6th. The company reported C$1.40 earnings per share (EPS) for the quarter. OceanaGold had a net margin of 33.78% and a return on equity of 34.87%. The company had revenue of C$993.37 million during the quarter. As a group, equities research analysts expect that OceanaGold will post 0.6283048 EPS for the current year.

OceanaGold announced that its board has approved a share buyback plan on Wednesday, February 18th that permits the company to buyback $350.00 million in shares. This buyback authorization permits the company to repurchase up to 2.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

About OceanaGold

OceanaGold is a global 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 wholly-owned Haile Gold Mine in the United States of America ; the wholly-owned Macraes and Waihi operations in New Zealand ; and the 80%-owned Didipio Mine in the Philippines.