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

Shares of OceanaGold Co. (TSE:OGC) hit a new 52-week high during mid-day trading on Friday . The company traded as high as C$5.03 and last traded at C$5.03, with a volume of 597202 shares traded. The stock had previously closed at C$4.70.

Analyst Ratings Changes

OGC has been the subject of several research reports. Raymond James raised their target price on OceanaGold from C$5.50 to C$6.50 in a research note on Friday, April 4th. TD Securities downgraded shares of OceanaGold from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 27th. National Bank Financial upgraded shares of OceanaGold to a “strong-buy” rating in a research note on Friday, March 21st. Scotiabank raised their price objective on OceanaGold from C$6.00 to C$6.25 in a research note on Wednesday, January 15th. Finally, BMO Capital Markets decreased their price target on shares of OceanaGold from C$6.25 to C$5.75 in a report on Thursday, February 20th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, OceanaGold has an average rating of “Buy” and an average price target of C$5.75.

OceanaGold Price Performance

The stock has a 50-day moving average price of C$4.33 and a 200 day moving average price of C$4.16. The company has a market cap of C$2.46 billion, a price-to-earnings ratio of 40.22 and a beta of 1.62.

Insider Activity at OceanaGold

In other news, Senior Officer Liang Tang sold 50,000 shares of the company’s 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 transaction of C$219,000.00. 0.15% of the stock is currently owned by 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.