Raymond James Boosts OceanaGold (TSE:OGC) Price Target to C$5.00

OceanaGold (TSE:OGC) had its price target increased by investment analysts at Raymond James from C$4.50 to C$5.00 in a report issued on Tuesday, BayStreet.CA reports. Raymond James’ target price points to a potential upside of 62.34% from the stock’s current price. Raymond James also issued estimates for OceanaGold’s Q1 2024 earnings at $0.01 EPS, Q3 2024 earnings at $0.11 EPS and Q4 2024 earnings at $0.11 EPS.

OGC has been the subject of several other research reports. BMO Capital Markets decreased their price target on shares of OceanaGold from C$4.25 to C$3.75 in a research report on Thursday, February 22nd. CIBC lifted their price objective on shares of OceanaGold from C$4.50 to C$5.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. National Bankshares decreased their price objective on shares of OceanaGold from C$4.00 to C$3.75 in a research report on Friday, February 23rd. Desjardins lifted their price objective on shares of OceanaGold from C$3.50 to C$4.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Finally, Jefferies Financial Group lifted their price objective on shares of OceanaGold from C$3.50 to C$4.00 and gave the stock a “buy” rating in a research report on Monday. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, OceanaGold has an average rating of “Buy” and a consensus price target of C$4.08.

OceanaGold Stock Performance

Shares of TSE:OGC traded up C$0.07 during mid-day trading on Tuesday, reaching C$3.08. 1,698,029 shares of the company were exchanged, compared to its average volume of 1,452,640. The company has a market cap of C$2.18 billion, a price-to-earnings ratio of 19.13 and a beta of 1.50. The company has a 50-day moving average price of C$2.85. OceanaGold has a 1 year low of C$2.08 and a 1 year high of C$3.50.

OceanaGold (TSE:OGC) last issued its quarterly earnings results on Wednesday, February 21st. The company reported C$0.01 EPS for the quarter, missing the consensus estimate of C$0.02 by C($0.01). OceanaGold had a net margin of 8.10% and a return on equity of 4.88%. The business had revenue of C$363.94 million during the quarter. On average, research analysts predict that OceanaGold will post 0.2977737 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Paul Benson purchased 44,400 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were purchased at an average cost of C$2.25 per share, for a total transaction of C$99,678.00. 0.14% of the stock is owned by company insiders.

About OceanaGold

OceanaGold Corporation, a gold and copper producer, engages in exploration, development, and operation of mineral properties in the United States, the Philippines, and New Zealand. It explores for gold, copper, and silver deposits. OceanaGold Corporation was founded in 2003 and is based in Vancouver, Canada.