The Chairman of OceanaGold (Other OTC: OCANF) is Buying Shares

By Carrie Williams

Today, the Chairman of OceanaGold (OCANFResearch Report), Ian Macnevin Reid, bought shares of OCANF for $81.25K.

This recent transaction increases Ian Macnevin Reid’s holding in the company by 48% to a total of $260K.

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Currently, OceanaGold has an average volume of 88.29K. The company has a one-year high of $2.99 and a one-year low of $0.80.

Based on 14 analyst ratings, the analyst consensus is Strong Buy with an average price target of $3.09, reflecting a -58.9% downside. 10 different firms, including BMO Capital and Canaccord Genuity, currently also have a Buy rating on the stock. Starting in September 2020, OCANF received 7 Buy ratings in a row.

In the last 30 days, insiders have sold $61.8K worth of OCANF shares and purchased $139.6K worth of OCANF shares. The insider sentiment on OceanaGold has been negative according to 21 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

Ian Macnevin Reid’s trades have generated a 17.0% average return based on past transactions. DailyInsider proprietary algorithm detects trades by the most influential insiders and selects attractive trading opportunities daily. To subscribe to the DailyInsider visit this page.

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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.