OceanaGold Co. (TSE:OGC) Expected to Post FY2024 Earnings of $0.47 Per Share

OceanaGold Co. (TSE:OGC) – Equities research analysts at National Bank Financial raised their FY2024 earnings per share (EPS) estimates for shares of OceanaGold in a research note issued on Wednesday, July 31st. National Bank Financial analyst M. Parkin now expects that the company will post earnings of $0.47 per share for the year, up from their prior estimate of $0.37. National Bank Financial currently has a “Outperform Overweight” rating on the stock. The consensus estimate for OceanaGold’s current full-year earnings is $0.31 per share. National Bank Financial also issued estimates for OceanaGold’s FY2025 earnings at $0.70 EPS.

OceanaGold (TSE:OGC) last announced its quarterly earnings results on Tuesday, April 30th. The company reported C$0.01 earnings per share for the quarter, missing the consensus estimate of C$0.02 by C($0.01). OceanaGold had a net margin of 3.69% and a return on equity of 2.29%. The company had revenue of C$364.40 million for the quarter.

Other research analysts also recently issued reports about the stock. Royal Bank of Canada raised shares of OceanaGold to a “moderate buy” rating in a report on Wednesday, June 12th. Jefferies Financial Group boosted their target price on OceanaGold from C$4.00 to C$5.00 in a research report on Friday, July 12th. Scotiabank raised their price target on OceanaGold from C$4.00 to C$4.25 in a report on Thursday, May 23rd. Desjardins boosted their price objective on OceanaGold from C$4.90 to C$5.50 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, CIBC raised their target price on shares of OceanaGold from C$5.00 to C$5.25 in a research note on Wednesday, July 10th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$4.69.

OceanaGold Stock Performance

Shares of TSE:OGC opened at C$3.40 on Friday. OceanaGold has a 12 month low of C$2.08 and a 12 month high of C$3.84. The stock has a market cap of C$2.42 billion, a P/E ratio of 48.57 and a beta of 1.61. The company has a 50 day moving average of C$3.34 and a 200 day moving average of C$3.03.

OceanaGold Increases Dividend

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Friday, October 11th. Stockholders of record on Thursday, August 29th will be paid a $0.014 dividend. This is a boost from OceanaGold’s previous Semi-Annual dividend of $0.01. The ex-dividend date is Thursday, August 29th. OceanaGold’s dividend payout ratio is 42.86%.

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.