OceanaGold (TSE:OGC) Reaches New 52-Week High – Still a Buy?

OceanaGold Co. (TSE:OGC) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$5.29 and last traded at C$5.24, with a volume of 2176571 shares changing hands. The stock had previously closed at C$5.03.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. TD Securities lowered shares of OceanaGold from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 27th. Scotiabank raised their price objective on shares of OceanaGold from C$6.00 to C$6.25 in a report on Wednesday, January 15th. Raymond James boosted their target price on shares of OceanaGold from C$5.50 to C$6.50 in a research note on Friday, April 4th. BMO Capital Markets cut their price target on OceanaGold from C$6.25 to C$5.75 in a research note on Thursday, February 20th. Finally, National Bank Financial raised OceanaGold to a “strong-buy” rating in a research report on Friday, March 21st. One research analyst has rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, OceanaGold currently has an average rating of “Buy” and a consensus target price of C$5.75.

OceanaGold Stock Down 0.4 %

The firm has a fifty day simple moving average of C$4.39 and a 200-day simple moving average of C$4.20. The company has a market cap of C$2.59 billion, a PE ratio of 42.33 and a beta of 1.62.

Insider Buying and Selling

In other OceanaGold news, Senior Officer Liang Tang sold 50,000 shares of the firm’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of C$4.38, for a total transaction of C$219,000.00. 0.15% of the stock is currently owned by company insiders.

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.