OceanaGold’s (OGC) Outperform Rating Reaffirmed at Scotiabank

OceanaGold Co. (TSE:OGC)‘s stock had its “outperform” rating reaffirmed by analysts at Scotiabank in a research report issued on Wednesday. They presently have a C$6.50 target price on the stock. Scotiabank’s target price suggests a potential upside of 60.49% from the company’s previous close.

A number of other brokerages have also issued reports on OGC. Barclays PLC started coverage on OceanaGold in a research note on Friday, July 8th. They issued an “equal weight” rating and a C$6.00 price target on the stock. National Bank Financial lifted their price target on OceanaGold from C$6.00 to C$6.50 in a research note on Wednesday, July 13th. BMO Capital Markets reaffirmed a “market perform” rating and issued a C$6.00 price target on shares of OceanaGold in a research note on Wednesday, September 7th. Finally, Raymond James Financial Inc. lifted their price target on OceanaGold from C$5.20 to C$6.00 in a research note on Monday, June 27th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. OceanaGold has an average rating of “Hold” and an average price target of C$5.13.

OceanaGold (TSE:OGC) traded down 1.23% during mid-day trading on Wednesday, reaching $4.00. The company’s stock had a trading volume of 3,942,568 shares. The firm’s 50 day moving average price is $4.60 and its 200 day moving average price is $4.38. The stock has a market cap of $2.44 billion and a price-to-earnings ratio of 23.67. OceanaGold has a 12-month low of $1.79 and a 12-month high of $5.56.

About OceanaGold

OceanaGold Corporation is an Australia-based gold mining and exploration company. The Company is engaged in the production of gold. The Company operates through three segments: New Zealand, the Philippines and the USA. Its asset portfolio consists of the Macraes Operations (Macraes), which include the operating Macraes open pit gold mines and Frasers underground gold mine; the Didipio Operations (Didipio), which includes an open pit that commenced commercial production, and an underground mine; the Waihi Gold Mine Operation (Waihi), which includes the Martha open pit and Correnso underground gold mine, and the Haile Gold Mine Project (Haile).

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