FY2016 Earnings Estimate for OceanaGold Co. Issued By Haywood Securities (OGC)

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OceanaGold Co. (TSE:OGC) – Analysts at Haywood Securities cut their FY2016 earnings per share estimates for OceanaGold in a research note issued on Tuesday. Haywood Securities analyst G. Mark now forecasts that the firm will post earnings of $0.23 per share for the year, down from their prior estimate of $0.27.
Several other research analysts also recently weighed in on OGC. Scotiabank reaffirmed a “sector perform” rating and set a C$4.75 target price on shares of OceanaGold in a research note on Wednesday, June 8th. Raymond James Financial Inc. increased their price objective on OceanaGold from C$5.20 to C$6.00 in a research note on Monday, June 27th. Barclays PLC initiated coverage on OceanaGold in a research note on Friday, July 8th. They issued an “equal weight” rating and a C$6.00 price objective for the company. National Bank Financial increased their price objective on OceanaGold from C$6.00 to C$6.50 in a research note on Wednesday, July 13th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a C$6.00 price objective on shares of OceanaGold in a research note on Wednesday. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. OceanaGold has a consensus rating of “Hold” and an average target price of C$5.10.
OceanaGold (TSE:OGC) traded down 1.44% during mid-day trading on Thursday, hitting $4.78. The company had a trading volume of 1,361,713 shares. OceanaGold has a 52-week low of $1.79 and a 52-week high of $5.56. The company has a 50-day moving average price of $4.63 and a 200 day moving average price of $4.30. The company has a market capitalization of $2.92 billion and a P/E ratio of 28.28.

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About OceanaGold
OceanaGold Corporation is an Australia-based gold mining and exploration company. The Company is engaged in the production of gold. The Company operates through three segments: New Zealand, the Philippines and the USA. Its asset portfolio consists of the Macraes Operations (Macraes), which include the operating Macraes open pit gold mines and Frasers underground gold mine; the Didipio Operations (Didipio), which includes an open pit that commenced commercial production, and an underground mine; the Waihi Gold Mine Operation (Waihi), which includes the Martha open pit and Correnso underground gold mine, and the Haile Gold Mine Project (Haile).

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