In a latest note to investors, a research analyst has provided a rating update for the Materials sector company, OceanaGold (OGC). Barclays’ analyst Matt Murphy reiterates their Buy rating on the shares, with a C$5 price target.
According to TipRanks.com, Murphy is a 4-star analyst with an average return of 9.8% and a 70.3% success rate. Murphy covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals Corp, Newmont Mining Corporation, and Barrick Gold Corporation.
OceanaGold has an analyst consensus of Strong Buy, with a price target consensus of C$5, representing a 34.0% upside. In a report issued on July 5, RBC Capital also reiterated a Buy rating on the stock with a C$4.75 price target.
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OceanaGold’s market cap is currently C$2.32B and has a P/E ratio of 17.8. The company has a Price to Book ratio of 1.11.
OceanaGold Corp. operates as a multinational gold producer with a portfolio of operating, development and exploration assets. The company’s assets are located in the Philippines, New Zealand and the United States. It holds interest in Haile Gold Mine, Didipio, Macraes and Waihi projects.
The company’s shares closed on Wednesday at C$3.73.