OceanaGold (TSE:OGC) Stock Crosses Above 50 Day Moving Average of $3.78

OceanaGold Corp (TSE:OGC)’s stock price crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $3.78 and traded as high as $3.85. OceanaGold shares last traded at $3.65, with a volume of 1,032,914 shares changing hands.

OGC has been the topic of several research analyst reports. Pi Financial upped their price objective on OceanaGold from C$5.40 to C$5.50 in a research report on Monday, March 25th. National Bank Financial upped their price objective on OceanaGold from C$4.75 to C$5.00 in a research report on Thursday, March 21st. Desjardins raised OceanaGold from a “hold” rating to a “buy” rating and upped their price objective for the company from C$5.25 to C$5.50 in a research report on Monday, March 11th. Raymond James reaffirmed an “outperform” rating and issued a C$5.50 price objective on shares of OceanaGold in a research report on Tuesday, June 4th. Finally, Royal Bank of Canada upped their price objective on OceanaGold from C$4.50 to C$4.75 and gave the company an “outperform” rating in a research report on Tuesday, March 12th. Six research analysts have rated the stock with a buy rating, OceanaGold currently has a consensus rating of “Buy” and a consensus target price of C$5.25.

The company has a debt-to-equity ratio of 11.84, a quick ratio of 0.61 and a current ratio of 1.34. The company has a 50-day simple moving average of C$3.77. The stock has a market capitalization of $2.23 billion and a price-to-earnings ratio of 25.57.

OceanaGold (TSE:OGC) last posted its quarterly earnings results on Monday, April 29th. The company reported C$0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.05 by C($0.01). The firm had revenue of C$238.62 million during the quarter. As a group, sell-side analysts expect that OceanaGold Corp will post 0.16 EPS for the current year.

About OceanaGold (TSE:OGC)

OceanaGold Corporation engages in the exploration, development, and operation of mineral properties. The company operates the Didipio gold-copper mine on Luzon Island in the Philippines; the Macraes goldfield mine on the South Island of New Zealand; the Waihi gold mine on the North Island of New Zealand; and Haile gold mine located in South Carolina, United States of America.

Further Reading: Support Level

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