OceanaGold (TSE:OGC) Sets New 12-Month High - Still a Buy?

OceanaGold Co. (TSE:OGC - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$4.79 and last traded at C$4.76, with a volume of 249597 shares trading hands. The stock had previously closed at C$4.69.

Analyst Ratings Changes

Several research analysts recently weighed in on OGC shares. Scotiabank increased their target price on OceanaGold from C$6.00 to C$6.25 in a research report on Wednesday, January 15th. TD Securities upgraded OceanaGold to a "strong-buy" rating in a report on Tuesday, February 4th. National Bankshares reduced 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, October 23rd. Royal Bank of Canada raised their target price on shares of OceanaGold from C$5.50 to C$6.00 in a research note on Friday, December 6th. Finally, CIBC reduced their price objective on OceanaGold from C$6.00 to C$5.75 in a research note on Friday, December 13th. Four research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of C$5.13.

OceanaGold Stock Performance

The company's fifty day simple moving average is C$4.18 and its two-hundred day simple moving average is C$3.92. The company has a market capitalization of C$2.32 billion, a price-to-earnings ratio of 37.79 and a beta of 1.62.

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.