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

OceanaGold Co. (TSE:OGC) – Cormark boosted their FY2024 earnings estimates for shares of OceanaGold in a research note issued to investors on Thursday, May 2nd. Cormark analyst R. Gray now forecasts that the company will post earnings of $0.34 per share for the year, up from their prior forecast of $0.31. The consensus estimate for OceanaGold’s current full-year earnings is $0.32 per share.

OceanaGold (TSE:OGC) last issued its quarterly earnings data on Wednesday, February 21st. The company reported C$0.01 earnings per share for the quarter, missing the consensus estimate of C$0.02 by C($0.01). The company had revenue of C$363.94 million for the quarter. OceanaGold had a return on equity of 2.29% and a net margin of 3.69%.

OGC has been the subject of several other research reports. National Bank Financial restated an “outperform overweight” rating on shares of OceanaGold in a report on Monday, April 8th. Canaccord Genuity Group boosted their target price on OceanaGold from C$4.00 to C$4.25 in a research report on Tuesday, April 23rd. CIBC upped their target price on OceanaGold from C$4.50 to C$5.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Raymond James raised their price target on OceanaGold from C$4.50 to C$5.00 in a research note on Tuesday, April 23rd. Finally, Desjardins increased 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. Six research analysts have rated the stock with a buy rating, According to MarketBeat, OceanaGold presently has an average rating of “Buy” and an average price target of C$4.17.

OceanaGold Stock Up 3.4 %

TSE:OGC opened at C$3.05 on Monday. The firm’s fifty day moving average is C$2.92. The stock has a market cap of C$2.17 billion, a price-to-earnings ratio of 43.57 and a beta of 1.61. OceanaGold has a fifty-two week low of C$2.08 and a fifty-two week high of C$3.50.

Insiders Place Their Bets

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 purchased at an average cost of C$2.25 per share, for a total transaction of C$99,678.00. Company insiders own 0.14% of the company’s stock.

OceanaGold Dividend Announcement

The company also recently announced a Semi-Annual dividend, which was paid on Friday, April 26th. Shareholders of record on Thursday, March 7th were given a dividend of $0.013 per share. The ex-dividend date of this dividend was Wednesday, March 6th. OceanaGold’s dividend payout ratio (DPR) is presently 42.86%.

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.