Oceanagold (NYSE:OGC) Rating Increased to Hold at Zacks Research

Oceanagold (NYSE:OGC) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday, Zacks reports.

A number of other brokerages have also weighed in on OGC. Wall Street Zen lowered Oceanagold from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 22nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Oceanagold in a research report on Friday, September 4th. Scotiabank upgraded Oceanagold to a “strong-buy” rating in a research report on Thursday, May 14th. Finally, Jefferies Financial Group raised Oceanagold to a “strong-buy” rating in a research note on Tuesday, June 9th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy”.

Oceanagold Stock Up 2.9%

Shares of OGC opened at $31.12 on Tuesday. The stock has a 50-day moving average of $26.99. 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 52 week low of $19.33 and a 52 week high of $43.33. The stock has a market capitalization of $6.92 billion and a PE ratio of 15.64.

Oceanagold (NYSE:OGC) last issued its quarterly 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. 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%. On average, equities analysts anticipate that Oceanagold will post 4.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Oceanagold

Institutional investors and hedge funds have recently made changes to their positions in the business. Nykredit A S purchased a new stake in shares of Oceanagold during the 2nd quarter valued at about $125,000. Engineers Gate Manager LP purchased a new position in Oceanagold in the second quarter worth about $337,000. Tidal Investments LLC purchased a new position in Oceanagold in the second quarter worth about $355,000. TD Waterhouse Canada Inc. bought a new stake in Oceanagold during the second quarter worth approximately $584,000. Finally, Sequoia Financial Advisors LLC bought a new stake in Oceanagold during the second quarter worth approximately $603,000.

About Oceanagold

OceanaGold Corporation is a gold and copper mining company that explores for, develops, and operates precious metals projects. The company’s portfolio includes producing mines and development assets, with a focus on the extraction and processing of gold and copper from its owned and operated operations.

Founded in 1989, OceanaGold has built a business centered on long-life mineral assets and responsible mining practices. Its operations have historically been located in the Asia-Pacific region, including New Zealand, the Philippines, and the United States, giving it exposure to several established mining jurisdictions.

The company is headquartered in Vancouver, Canada.