What is Cormark's Forecast for OceanaGold FY2024 Earnings?

OceanaGold Co. (TSE:OGC - Free Report) - Equities research analysts at Cormark reduced their FY2024 earnings estimates for shares of OceanaGold in a research report issued on Friday, November 8th. Cormark analyst R. Gray now forecasts that the company will earn $0.39 per share for the year, down from their prior forecast of $0.41. The consensus estimate for OceanaGold's current full-year earnings is $0.63 per share. Cormark also issued estimates for OceanaGold's Q4 2024 earnings at $0.19 EPS.

OceanaGold (TSE:OGC - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported C$0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.14 by C($0.02). The firm had revenue of C$470.93 million for the quarter. OceanaGold had a return on equity of 0.24% and a net margin of 0.10%.

Several other equities analysts also recently commented on OGC. Scotiabank increased their price objective on shares of OceanaGold from C$4.25 to C$4.75 in a research note on Monday, August 19th. National Bankshares dropped their price objective on shares of OceanaGold from C$6.00 to C$5.50 and set an "outperform" rating for the company in a research note on Wednesday, October 23rd. Royal Bank of Canada increased their price objective on shares of OceanaGold from C$5.00 to C$5.50 and gave the company an "outperform" rating in a research note on Tuesday, September 10th. Desjardins increased their price objective on shares of OceanaGold from C$4.90 to C$5.50 and gave the company a "buy" rating in a research note on Monday, July 22nd. Finally, CIBC dropped their price objective on shares of OceanaGold from C$5.25 to C$4.50 in a research note on Thursday. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of C$4.80.

OceanaGold Stock Performance

Shares of TSE OGC traded down C$0.17 during trading hours on Monday, hitting C$3.77. 830,049 shares of the stock were exchanged, compared to its average volume of 1,472,363. The company has a market cap of C$2.68 billion, a PE ratio of 394.00 and a beta of 1.62. The company's fifty day simple moving average is C$3.82 and its two-hundred day simple moving average is C$3.48. OceanaGold has a 1-year low of C$2.08 and a 1-year high of C$4.41.

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.