Oceanagold (NYSE:OGC) Announces Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Oceanagold (NYSE:OGC) released its earnings results on Wednesday. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.05, Zacks reports. Oceanagold had a return on equity of 39.80% and a net margin of 36.58%. The business had revenue of $654.90 million for the quarter.

Oceanagold Price Performance

NYSE OGC traded up $0.27 during trading on Friday, reaching $27.71. 218,807 shares of the company’s stock were exchanged, compared to its average volume of 338,106. The firm’s 50 day simple moving average is $27.54. The firm has a market capitalization of $6.11 billion and a PE ratio of 13.93. The company has a quick ratio of 1.24, a current ratio of 1.63 and a debt-to-equity ratio of 0.01. Oceanagold has a fifty-two week low of $20.18 and a fifty-two week high of $43.33.

Oceanagold Announces Dividend

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

Analyst Upgrades and Downgrades

OGC has been the topic of several recent analyst reports. Zacks Research lowered Oceanagold from a “hold” rating to a “strong sell” rating in a research report on Monday. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Oceanagold in a report on Friday, October 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of Oceanagold in a research note on Friday, September 4th. Finally, Wall Street Zen downgraded shares of Oceanagold from a “buy” rating to a “hold” rating in a report on Saturday, October 17th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy”.

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.