As previously reported, CIBC analyst Cosmos Chiu upgraded OceanaGold to Outperformer from Neutral with a price target of C$4, up from C$3. The analyst sees OceanaGold as a producer "well positioned to deliver organic growth at a high FCF yield," with the Didipio project expected to contribute another year at full production rates, and production from the Haile underground expected to begin contributing meaningfully in Q4 of this year. Potential near-term catalysts include the release of an updated three-year outlook, along with earnings results, which the firm believes will showcase year-over-year growth.
Published first on TheFly
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