OceanaGold Co. Expected to Report Strong Earnings in FY2024

OceanaGold Philippines Inc Makes Strides with Successful IPO Debut (Consensus "Strong Buy")

National Bank Financial analysts have projected that OceanaGold Co. (TSX:OGC) will earn $0.43 per share for FY2024, according to a report issued on February 22nd. This estimate is higher than the current consensus estimate of $0.22 per share for the full year. Analyst M. Parkin noted the projected earnings in the report.

OceanaGold has received other ratings reports in recent weeks. Canadian Imperial Bank of Commerce (TSX:CM) upgraded the company from “neutral” to “outperform” and raised their price target from C$3.00 to C$4.00 in a January 26th report. Raymond James(NYE:RJF) also upped their target price from C$3.50 to C$3.75 and gave the stock an “outperform” rating on January 31st. However, National Bankshares reduced their target price from C$4.00 to C$3.75 and gave the stock an “outperform” rating on February 23rd.

As of Monday, shares of OceanaGold were trading up 1.9% at C$2.63. The company has a 12-month low of C$1.78 and a 12-month high of C$3.41. Its market capitalization is C$1.85 billion and has a PE ratio of 32.88. The business has a 50-day moving average of C$2.73 and a two-hundred day moving average of C$2.37. The company’s current ratio is 1.67, and it has a quick ratio of 0.85, with a debt-to-equity ratio of 19.05. OceanaGold recently declared a Semi-Annual dividend, which will be paid on Friday. The ex-dividend date of this dividend is Tuesday, March 7th, and investors of record on Thursday, March 9th will receive a dividend of $0.013 per share.

OceanaGold Corporation Stock Analysis:

According to forecasts from six analysts, the average target price for OceanaGold Corporation stock over the next 12 months is CAD 3.66, with an average analyst ratings of Strong Buy. However, Stock Target Advisor’s own analysis of the stock is Neutral, based on 5 positive signals and 6 negative signals. Currently, the stock price of OceanaGold Corporation is CAD 2.63, showing a 1.15% increase over the past week, a 12.04% decrease over the past month, and a 13.36% increase over the past year.

Company Overview

OceanaGold Corporation, a gold producer, explores, develops, and operates mineral properties. It explores for gold, copper, and silver deposits. The company holds interest in the Didipio gold and copper project located in the Luzon, Philippines; the Macraes goldfield project in the South Island of New Zealand; Waihi gold project in the North Island of New Zealand; and the Haile gold project located in Kershaw, South Carolina, the United States. OceanaGold Corporation was founded in 2003 and is based in Vancouver, Canada.

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