OceanaGold (TSE:OGC) Hits New 1-Year High - Should You Buy?

OceanaGold Co. (TSE:OGC - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as C$4.27 and last traded at C$4.25, with a volume of 1728588 shares. The stock had previously closed at C$4.10.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Canaccord Genuity Group lifted their target price on shares of OceanaGold from C$4.50 to C$5.50 and gave the stock a "strong-buy" rating in a report on Tuesday, July 23rd. National Bankshares boosted their price objective on shares of OceanaGold from C$4.50 to C$5.00 and gave the company an "outperform" rating in a report on Wednesday, July 17th. Jefferies Financial Group boosted their price objective on shares of OceanaGold from C$4.00 to C$5.00 in a report on Friday, July 12th. Royal Bank of Canada boosted their price objective on shares of OceanaGold from C$5.00 to C$5.50 and gave the company an "outperform" rating in a report on Tuesday, September 10th. Finally, Desjardins boosted their price objective on shares of OceanaGold from C$4.90 to C$5.50 and gave the company a "buy" rating in a report on Monday, July 22nd. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of C$4.83.

OceanaGold Price Performance

The firm's 50-day moving average is C$3.66 and its 200-day moving average is C$3.39. The company has a market capitalization of C$3.04 billion, a P/E ratio of 427.00 and a beta of 1.62.

OceanaGold (TSE:OGC - Get Free Report) last announced its earnings results on Tuesday, July 30th. The company reported C$0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of C$0.05. The company had revenue of C$343.70 million during the quarter. OceanaGold had a net margin of 0.10% and a return on equity of 0.24%. As a group, analysts forecast that OceanaGold Co. will post 0.6283048 EPS for the current fiscal year.

OceanaGold Increases Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Friday, October 11th. Shareholders of record on Thursday, August 29th were given a $0.014 dividend. This is a positive change from OceanaGold's previous Semi-Annual dividend of $0.01. The ex-dividend date of this dividend was Thursday, August 29th. OceanaGold's dividend payout ratio is presently 300.00%.

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.