OceanaGold (TSE:OGC) Given New C$5.50 Price Target at National Bankshares

OceanaGold (TSE:OGC) had its price target dropped by investment analysts at National Bankshares from C$6.00 to C$5.50 in a report released on Wednesday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. National Bankshares’ target price would indicate a potential upside of 31.58% from the stock’s current price.

OGC has been the subject of a number of other reports. Jefferies Financial Group increased their price target on OceanaGold from C$4.00 to C$5.00 in a report on Friday, July 12th. Desjardins raised their target price on OceanaGold from C$4.90 to C$5.50 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Scotiabank lifted their price target on shares of OceanaGold from C$4.25 to C$4.75 in a research note on Monday, August 19th. CIBC increased their price objective on shares of OceanaGold from C$5.00 to C$5.25 in a research report on Wednesday, July 10th. Finally, Canaccord Genuity Group raised their target price on OceanaGold from C$4.50 to C$5.50 and gave the company a “strong-buy” rating in a research note on Tuesday, July 23rd. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of C$4.88.

OceanaGold Price Performance

Shares of OceanaGold stock traded down C$0.09 during midday trading on Wednesday, reaching C$4.18. The company had a trading volume of 530,897 shares, compared to its average volume of 1,475,396. The firm has a market cap of C$2.97 billion, a PE ratio of 418.00 and a beta of 1.62. The stock has a fifty day moving average price of C$3.70 and a 200 day moving average price of C$3.41. OceanaGold has a fifty-two week low of C$2.08 and a fifty-two week high of C$4.41.

OceanaGold (TSE:OGC) last posted its quarterly earnings data on Tuesday, July 30th. The company reported C$0.05 EPS for the quarter, meeting analysts’ consensus estimates of C$0.05. OceanaGold had a net margin of 0.10% and a return on equity of 0.24%. The company had revenue of C$343.70 million for the quarter. As a group, sell-side analysts forecast that OceanaGold will post 0.6283048 EPS for the current year.

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.