Raymond James analyst Farooq Hamed maintained a Buy rating on OceanaGold (OCANF – Research Report) today and set a price target of C$3.75. The company’s shares opened today at $2.04.
Hamed covers the Basic Materials sector, focusing on stocks such as First Quantum Minerals, Hudbay Minerals, and Lundin Mining. According to TipRanks, Hamed has an average return of -9.9% and a 35.86% success rate on recommended stocks.
Currently, the analyst consensus on OceanaGold is a Strong Buy with an average price target of $2.73, a 33.82% upside from current levels. In a report released on January 26, CIBC also upgraded the stock to a Buy with a C$4.00 price target.
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The company has a one-year high of $2.70 and a one-year low of $1.31. Currently, OceanaGold has an average volume of 44.15K.
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OceanaGold Corp. is a multinational gold producer with a portfolio of operating, development and exploration assets. The firm operates through Philippines, New Zealand and the United States geographical segments. It holds interest in Haile Gold Mine, Didipio, Macraes and Waihi projects. OceanaGold was founded in 1989 and is headquartered in Melbourne, Australia.
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