2 hours ago by MT Newswires
11:11 AM EDT, 04/29/2022 (MT Newswires) -- OceanaGold (OGC.TO) rose 4% on Friday after the mining company reported first quarter earnings per share of $0.11 and cash flow per share of $0.22, compared to consensus of $0.07 and $0.14, respectively.
CIBC Capital Markets analyst Cosmos Chiu raised his target price on OGC shares to $4.00 from $3.50, and maintained a Neutral rating.
"The earnings beat was driven by higher-than-estimated production, Chiu said in a note to clients.
"We expect the first quarter to be the strongest quarter of 2022 given anticipated lower-grade zones processed at Haile and Didipio in the second and third quarters, and reconciliation underperformance at Waihi," the analyst said.
OceanaGold shares rose $0.14, or 4.5%, to $3.27 on the Toronto Stock Exchange.
(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)
Price: 3.27, Change: +0.14, Percent Change: +4.47 IMO
2 hours ago by MT Newswires
11:11 AM EDT, 04/29/2022 (MT Newswires) -- OceanaGold (OGC.TO) rose 4% on Friday after the mining company reported first quarter earnings per share of $0.11 and cash flow per share of $0.22, compared to consensus of $0.07 and $0.14, respectively.
CIBC Capital Markets analyst Cosmos Chiu raised his target price on OGC shares to $4.00 from $3.50, and maintained a Neutral rating.
"The earnings beat was driven by higher-than-estimated production, Chiu said in a note to clients.
"We expect the first quarter to be the strongest quarter of 2022 given anticipated lower-grade zones processed at Haile and Didipio in the second and third quarters, and reconciliation underperformance at Waihi," the analyst said.
OceanaGold shares rose $0.14, or 4.5%, to $3.27 on the Toronto Stock Exchange.
(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)
Price: 3.27, Change: +0.14, Percent Change: +4.47