Cormark Has Pessimistic Outlook of OceanaGold Q3 Earnings

OceanaGold Co. (TSE:OGC) – Equities research analysts at Cormark dropped their Q3 2024 EPS estimates for shares of OceanaGold in a report issued on Wednesday, October 23rd. Cormark analyst R. Gray now forecasts that the company will post earnings per share of $0.14 for the quarter, down from their prior forecast of $0.16. The consensus estimate for OceanaGold’s current full-year earnings is $0.63 per share.

A number of other research analysts have also commented on OGC. Canaccord Genuity Group upped their price target on shares of OceanaGold from C$4.50 to C$5.50 and gave the company a “strong-buy” rating in a research note on Tuesday, July 23rd. Desjardins boosted their price target on OceanaGold from C$4.90 to C$5.50 and gave the company a “buy” rating in a research note on Monday, July 22nd. Royal Bank of Canada increased their price objective on OceanaGold from C$5.00 to C$5.50 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Scotiabank boosted their target price on shares of OceanaGold from C$4.25 to C$4.75 in a research report on Monday, August 19th. Finally, National Bankshares lowered their price target on shares of OceanaGold from C$6.00 to C$5.50 and set an “outperform” rating on the stock in a research report on Wednesday. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, OceanaGold presently has an average rating of “Buy” and a consensus target price of C$4.88.

OceanaGold Trading Down 1.2 %

OGC stock opened at C$4.11 on Friday. The business’s 50 day simple moving average is C$3.74 and its 200 day simple moving average is C$3.42. OceanaGold has a 1-year low of C$2.08 and a 1-year high of C$4.41. The firm has a market capitalization of C$2.92 billion, a PE ratio of 411.00 and a beta of 1.62.

OceanaGold (TSE:OGC) last announced its quarterly earnings results on Tuesday, July 30th. The company reported C$0.05 earnings per share for the quarter, hitting analysts’ consensus estimates of C$0.05. OceanaGold had a return on equity of 0.24% and a net margin of 0.10%. The firm had revenue of C$343.70 million for the quarter.

OceanaGold Increases Dividend

The firm also recently declared a Semi-Annual dividend, which was paid on Friday, October 11th. Stockholders of record on Thursday, August 29th were issued a dividend of $0.014 per share. The ex-dividend date was Thursday, August 29th. This is a boost from OceanaGold’s previous Semi-Annual dividend of $0.01. OceanaGold’s payout ratio is 300.00%.

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.