Q1 2024 Earnings Estimate for OceanaGold Co. (TSE:OGC) Issued By Cormark

OceanaGold Co. (TSE:OGC) – Stock analysts at Cormark dropped their Q1 2024 earnings estimates for shares of OceanaGold in a note issued to investors on Monday, April 22nd. Cormark analyst R. Gray now anticipates that the company will post earnings of $0.04 per share for the quarter, down from their prior forecast of $0.10. The consensus estimate for OceanaGold’s current full-year earnings is $0.30 per share.

A number of other research firms have also issued reports on OGC. National Bankshares cut their price target on shares of OceanaGold from C$4.00 to C$3.75 in a report on Friday, February 23rd. BMO Capital Markets lowered their price objective on shares of OceanaGold from C$4.25 to C$3.75 in a research report on Thursday, February 22nd. CIBC boosted their price objective on shares of OceanaGold from C$4.50 to C$5.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Canaccord Genuity Group boosted their price objective on shares of OceanaGold from C$4.00 to C$4.25 in a research report on Tuesday. Finally, Desjardins boosted their price objective on shares of OceanaGold from C$3.50 to C$4.00 and gave the company a “buy” rating in a research report on Tuesday, January 30th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$4.08.

OceanaGold Price Performance

OGC stock opened at C$3.13 on Wednesday. OceanaGold has a 52-week low of C$2.08 and a 52-week high of C$3.50. The company’s 50 day moving average price is C$2.87. The firm has a market capitalization of C$2.21 billion, a price-to-earnings ratio of 19.56 and a beta of 1.50.

OceanaGold (TSE:OGC) last released its quarterly earnings results on Wednesday, February 21st. The company reported C$0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of C$363.94 million for the quarter.

Insider Buying and Selling

In other news, Director Paul Benson acquired 44,400 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was acquired at an average cost of C$2.25 per share, with a total value of C$99,678.00. 0.14% of the stock is owned by insiders.

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 issued a dividend of $0.013 per share. The ex-dividend date is Wednesday, March 6th. OceanaGold’s dividend payout ratio is currently 18.75%.

OceanaGold Company Profile

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.