CIBC Keeps a Buy Rating on OceanaGold

By Jason Carr

In a new note to investors on June 26, an analyst has provided a rating update for the Materials sector company, OceanaGold (TSX: OGC). Analyst Jeff Killeen from CIBC remains bullish on the stock and has a C$5.25 price target.

According to TipRanks.com, Killeen is ranked #792 out of 4588 analysts.

Currently, the analyst consensus on OceanaGold is Strong Buy and the average price target is C$5.04, representing a 22.6% upside.

In a report issued on June 26, Scotiabank also maintained a Buy rating on the stock with a C$5 price target.

OceanaGold’s market cap is currently C$2.52B and has a P/E ratio of 8.1.

OceanaGold Corp. operates as a multinational gold producer with a portfolio of operating, development and exploration assets. The company’s assets are located on the South Island of New Zealand and in the northern Philippines. It has built a business in New Zealand, operating three mines-Macraes Open Pit, Frasers Underground and the Reefton Open Pit mines.

The company’s shares closed on Tuesday at $4.11.