Key Points
- Insider sale: OceanaGold insider Brian Douglas Martin sold 30,000 shares on May 28 at an average price of C$40.47, totaling C$1.21 million. After the transaction, he held 19,363 shares, a 60.77% reduction in his position.
- Company performance: OceanaGold reported Q1 earnings of C$1.40 per share on revenue of C$993.37 million. The company posted a strong return on equity of 34.87% and net margin of 33.78%.
- Analyst sentiment: Recent research updates have been bullish, with several firms raising price targets. The stock currently carries an average Buy rating and an average price target of C$56.11.
OceanaGold Co. (TSE:OGC - Get Free Report) insider Brian Douglas Martin sold 30,000 shares of the firm's stock in a transaction on Thursday, May 28th. The stock was sold at an average price of C$40.47, for a total value of C$1,214,100.00. Following the completion of the transaction, the insider owned 19,363 shares of the company's stock, valued at C$783,620.61. This trade represents a 60.77% decrease in their position.
OceanaGold Price Performance
Shares of OGC stock opened at C$41.64 on Friday. The firm has a market capitalization of C$9.32 billion, a price-to-earnings ratio of 12.70 and a beta of 2.54. The business has a fifty day moving average of C$43.56 and a 200 day moving average of C$43.73. OceanaGold Co. has a 1 year low of C$17.94 and a 1 year high of C$59.20.
OceanaGold (TSE:OGC - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported C$1.40 earnings per share (EPS) for the quarter. The company had revenue of C$993.37 million during the quarter. OceanaGold had a return on equity of 34.87% and a net margin of 33.78%. As a group, equities research analysts expect that OceanaGold Co. will post 0.6283048 earnings per share for the current year.
OceanaGold declared that its Board of Directors has initiated a share buyback program on Wednesday, February 18th that permits the company to repurchase $350.00 million in shares. This repurchase authorization permits the company to reacquire up to 2.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.
Analyst Upgrades and Downgrades
OGC has been the subject of a number of recent research reports. Royal Bank Of Canada lifted their price objective on OceanaGold from C$52.00 to C$78.00 in a research note on Thursday, March 12th. Canadian Imperial Bank of Commerce lifted their price objective on OceanaGold from C$66.00 to C$72.00 in a research note on Thursday, February 26th. Desjardins lifted their price objective on OceanaGold from C$63.00 to C$65.00 and gave the company a "buy" rating in a research note on Friday, February 20th. Finally, TD lifted their price objective on OceanaGold from C$55.00 to C$56.00 and gave the company a "buy" rating in a research note on Tuesday, April 21st. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of C$56.11.
View Our Latest Stock Report on OceanaGold
About OceanaGold
(
Get Free Report)
OceanaGold is a global intermediate gold and copper producer committed to safely and responsibly maximizing the generation of Free Cash Flow from our operations and delivering strong returns for our shareholders. We have a portfolio of four operating mines: the wholly-owned Haile Gold Mine in the United States of America ; the wholly-owned Macraes and Waihi operations in New Zealand ; and the 80%-owned Didipio Mine in the Philippines.
Further Reading
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