OceanaGold (TSE:OGC) Hits New 1-Year High – Still a Buy?

OceanaGold Co. (TSE:OGC)’s share price reached a new 52-week high on Friday . The stock traded as high as C$5.03 and last traded at C$5.03, with a volume of 597202 shares changing hands. The stock had previously closed at C$4.70.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on OGC shares. National Bank Financial raised OceanaGold to a “strong-buy” rating in a research report on Friday, March 21st. Scotiabank increased their price objective on OceanaGold from C$6.00 to C$6.25 in a report on Wednesday, January 15th. TD Securities cut shares of OceanaGold from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 27th. BMO Capital Markets decreased their price target on shares of OceanaGold from C$6.25 to C$5.75 in a research note on Thursday, February 20th. Finally, CIBC dropped their price objective on shares of OceanaGold from C$6.00 to C$5.75 in a research note on Friday, December 13th. One research analyst has rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of C$5.75.

OceanaGold Trading Up 6.8 %

The company has a market capitalization of C$2.49 billion, a price-to-earnings ratio of 40.71 and a beta of 1.62. The firm’s 50 day simple moving average is C$4.33 and its 200-day simple moving average is C$4.15.

Insider Transactions at OceanaGold

In related news, Senior Officer Liang Tang sold 50,000 shares of OceanaGold stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of C$4.38, for a total value of C$219,000.00. Company insiders own 0.15% of the company’s stock.

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.