OceanaGold (TSE:OGC) Shares Pass Below Two Hundred Day Moving Average of $3.39

OceanaGold Corp (TSE:OGC) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.39 and traded as low as $2.48. OceanaGold shares last traded at $2.48, with a volume of 743,545 shares trading hands.

A number of research firms recently commented on OGC. Pi Financial lowered their price objective on shares of OceanaGold from C$6.00 to C$5.70 in a research note on Wednesday, August 21st. BMO Capital Markets upgraded shares of OceanaGold from a “market perform” rating to an “outperform” rating in a research note on Wednesday, September 11th. Royal Bank of Canada reiterated an “outperform” rating on shares of OceanaGold in a research note on Monday, November 4th. National Bank Financial lowered their price objective on shares of OceanaGold from C$5.00 to C$4.50 and set an “outperform” rating on the stock in a research note on Monday, November 18th. Finally, Raymond James set a C$4.50 price objective on shares of OceanaGold and gave the company a “strong-buy” rating in a research note on Wednesday, November 27th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of C$4.99.

The company has a quick ratio of 0.32, a current ratio of 1.06 and a debt-to-equity ratio of 12.73. The firm has a market cap of $1.64 billion and a price-to-earnings ratio of 122.50. The stock’s 50 day moving average is C$2.87 and its 200 day moving average is C$3.39.

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.

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