Scotia Bank raises target price
41 minutes ago by MT Newswires
08:10 AM EDT, 04/04/2022 (MT Newswires) -- Scotiabank raised its price target on OceanaGold (OGC.TO) to $3.75 from $3.25 on Monday.
Analyst Ovais Habib maintained a Sector Outperform rating on shares of the Australia-based gold producer after it filed new tech reports for its Didipio and Haile mines, as well as its year-end reserve and resource update.
"Overall we view the R&R announcement as neutral, however the new technical report at Didipio outlined a more positive outlook for the underground mine," Habib said in a note too clinets. "Haile also presented a more positive case than we had modeled although with higher execution risk."
"After two years focused on restarting Didipio/ stabilizing Haile production, we anticipate a positive FCF inflection for OGC with increased exploration spending," the analyst said.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
IMO
41 minutes ago by MT Newswires
08:10 AM EDT, 04/04/2022 (MT Newswires) -- Scotiabank raised its price target on OceanaGold (OGC.TO) to $3.75 from $3.25 on Monday.
Analyst Ovais Habib maintained a Sector Outperform rating on shares of the Australia-based gold producer after it filed new tech reports for its Didipio and Haile mines, as well as its year-end reserve and resource update.
"Overall we view the R&R announcement as neutral, however the new technical report at Didipio outlined a more positive outlook for the underground mine," Habib said in a note too clinets. "Haile also presented a more positive case than we had modeled although with higher execution risk."
"After two years focused on restarting Didipio/ stabilizing Haile production, we anticipate a positive FCF inflection for OGC with increased exploration spending," the analyst said.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)