Research Analysts Issue Forecasts for OceanaGold Co.’s FY2024 Earnings (TSE:OGC)

OceanaGold Co. (TSE:OGC) – Equities research analysts at Raymond James increased their FY2024 earnings per share estimates for OceanaGold in a research note issued to investors on Monday, April 8th. Raymond James analyst F. Hamed now forecasts that the company will earn $0.27 per share for the year, up from their prior estimate of $0.26. The consensus estimate for OceanaGold’s current full-year earnings is $0.30 per share.

OceanaGold (TSE:OGC) last issued its earnings results on Wednesday, February 21st. The company reported C$0.01 EPS for the quarter, missing analysts’ consensus estimates of C$0.02 by C($0.01). OceanaGold had a return on equity of 4.88% and a net margin of 8.10%. The company had revenue of C$363.94 million during the quarter.

A number of other brokerages also recently commented on OGC. Desjardins upped their target price on OceanaGold from C$3.50 to C$4.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. National Bankshares lowered their target price on OceanaGold from C$4.00 to C$3.75 in a research note on Friday, February 23rd. National Bank Financial restated an “outperform overweight” rating on shares of OceanaGold in a research note on Monday, April 8th. Cormark lowered their target price on OceanaGold from C$3.25 to C$3.00 in a research note on Monday, February 26th. Finally, BMO Capital Markets lowered their price target on OceanaGold from C$4.25 to C$3.75 in a research report on Thursday, February 22nd. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of C$3.94.

OceanaGold Stock Down 0.6 %

Shares of OGC opened at C$3.30 on Thursday. OceanaGold has a 52 week low of C$2.08 and a 52 week high of C$3.50. The stock has a market capitalization of C$2.33 billion, a P/E ratio of 20.63 and a beta of 1.50. The business has a 50-day moving average of C$2.78.

OceanaGold Announces Dividend

The firm also recently declared a Semi-Annual dividend, which will be paid on Friday, April 26th. Shareholders of record on Thursday, March 7th will be given a dividend of $0.013 per share. The ex-dividend date of this dividend is Wednesday, March 6th. OceanaGold’s dividend payout ratio is currently 18.75%.

Insiders Place Their Bets

In other news, Director Paul Benson bought 44,400 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were acquired at an average price of C$2.25 per share, for a total transaction of C$99,678.00. 0.14% of the stock is currently owned by company insiders.

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.