Q1 2024 EPS Estimates for OceanaGold Co. Decreased by Analyst (TSE:OGC)

OceanaGold Co. (TSE:OGC) – Equities research analysts at Raymond James lowered their Q1 2024 earnings per share estimates for OceanaGold in a report released on Thursday, April 18th. Raymond James analyst F. Hamed now anticipates that the company will earn $0.01 per share for the quarter, down from their prior estimate of $0.03. The consensus estimate for OceanaGold’s current full-year earnings is $0.30 per share. Raymond James also issued estimates for OceanaGold’s Q3 2024 earnings at $0.11 EPS and Q4 2024 earnings at $0.11 EPS.

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

OGC has been the subject of several other reports. National Bank Financial reissued an “outperform overweight” rating on shares of OceanaGold in a research report on Monday, April 8th. Jefferies Financial Group set a C$3.50 price objective on OceanaGold and gave the company a “buy” rating in a research report on Thursday, February 29th. Desjardins increased their price objective on OceanaGold from C$3.50 to C$4.00 and gave the company a “buy” rating in a research report on Tuesday, January 30th. National Bankshares reduced their target price on OceanaGold from C$4.00 to C$3.75 in a research report on Friday, February 23rd. Finally, Cormark reduced their target price on OceanaGold from C$3.25 to C$3.00 in a research report on Monday, February 26th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of C$3.94.

OceanaGold Stock Performance

Shares of OGC stock opened at C$3.19 on Monday. OceanaGold has a 12 month low of C$2.08 and a 12 month high of C$3.50. The company’s 50 day moving average is C$2.84. The firm has a market capitalization of C$2.26 billion, a P/E ratio of 19.94 and a beta of 1.50.

Insider Buying and Selling

In related news, Director Paul Benson bought 44,400 shares of OceanaGold stock in a transaction on Tuesday, February 27th. The shares were purchased at an average price of C$2.25 per share, for a total transaction of C$99,678.00. Corporate insiders own 0.14% of the company’s stock.

OceanaGold Dividend Announcement

The company also recently disclosed a Semi-Annual dividend, which will be paid on Friday, April 26th. Investors of record on Thursday, March 7th will be given a $0.013 dividend. The ex-dividend date is Wednesday, March 6th. OceanaGold’s payout ratio is 18.75%.

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.