Oceanagold (NYSE:OGC) Lowered to Hold Rating by Wall Street Zen

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

OGC has been the subject of several other research reports. Jefferies Financial Group raised shares of Oceanagold to a “strong-buy” rating in a research note on Tuesday, June 9th. Zacks Research raised shares of Oceanagold from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 8th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Oceanagold in a report on Friday, September 4th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy”.

Oceanagold Stock Down 0.5%

NYSE:OGC opened at $28.74 on Friday. Oceanagold has a 52 week low of $19.43 and a 52 week high of $43.33. The company has a fifty day simple moving average of $27.55. The stock has a market capitalization of $6.37 billion and a P/E ratio of 14.44. 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 released its quarterly earnings results on Wednesday, August 5th. The company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.05. The business had revenue of $647.30 million during the quarter. Oceanagold had a return on equity of 36.44% and a net margin of 35.14%. Sell-side analysts anticipate that Oceanagold will post 4.17 earnings per share for the current fiscal year.

Oceanagold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Wednesday, August 19th were paid a dividend of $0.09 per share. The ex-dividend date was Wednesday, August 19th. This represents a $0.36 dividend on an annualized basis and a yield of 1.3%. Oceanagold’s dividend payout ratio is 18.09%.

Institutional Trading of Oceanagold

Several hedge funds have recently made changes to their positions in OGC. Public Employees Retirement System of Ohio acquired a new position in Oceanagold during the 2nd quarter worth approximately $14,465,000. Groupe la Francaise acquired a new stake in shares of Oceanagold in the 2nd quarter valued at $19,560,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Oceanagold in the 2nd quarter valued at $15,332,000. TD Waterhouse Canada Inc. purchased a new stake in shares of Oceanagold during the 2nd quarter worth $584,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Oceanagold during the 2nd quarter worth $1,701,000.

About Oceanagold

OceanaGold Corporation is a mid-tier gold producer headquartered in Vancouver, Canada. The company explores for, develops and operates gold and copper-gold properties, with operations spanning North America, the Asia-Pacific region and Oceania. Its products primarily include gold, with silver and copper produced as byproducts at certain operations.

OceanaGold’s operating portfolio includes the Haile Gold Mine in South Carolina, the Didipio gold-copper mine in the Philippines, and the Macraes and Waihi operations in New Zealand.