OceanaGold Co. (TSE:OGC – Get Free Report) dropped 10.1% on Wednesday . The company traded as low as C$3.01 and last traded at C$3.21. Approximately 199,636 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 1,394,226 shares. The stock had previously closed at C$3.57.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on OGC shares. National Bankshares upped their price target on OceanaGold from C$4.50 to C$5.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. Canaccord Genuity Group upped their price target on OceanaGold from C$4.50 to C$5.50 and gave the stock a “strong-buy” rating in a research note on Tuesday, July 23rd. CIBC increased their price objective on OceanaGold from C$5.00 to C$5.25 in a research report on Wednesday, July 10th. Raymond James increased their price objective on OceanaGold from C$4.50 to C$5.00 in a research report on Tuesday, April 23rd. Finally, National Bank Financial restated an “outperform overweight” rating on shares of OceanaGold in a research report on Monday, April 8th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of C$4.69.
Read Our Latest Research Report on OceanaGold
OceanaGold Stock Performance
OceanaGold (TSE:OGC – Get Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The company reported C$0.01 EPS for the quarter, missing the consensus estimate of C$0.02 by C($0.01). The business had revenue of C$364.40 million during the quarter. OceanaGold had a net margin of 3.69% and a return on equity of 2.29%. As a group, equities analysts predict that OceanaGold Co. will post 0.3147257 EPS for the current fiscal year.
OceanaGold Increases Dividend
The company 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 positive change from OceanaGold’s previous Semi-Annual dividend of $0.01. The ex-dividend date of this dividend is Thursday, August 29th. OceanaGold’s payout ratio is currently 42.86%.
OceanaGold Company Profile
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.
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