The Globe and Mail reports in its Tuesday, Jan. 16, edition that National Bank Financial analyst Shane Nagle is sticking with his "outperform" recommendation and $4 share target for Oceanagold. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $4.03.
Mr. Nagle says in a note: "Despite some volatility in near-term ramp-up of the Haile underground mine, OceanaGold continues to exhibit strong operational performance and remains set to deliver significant growth in 2024. The company is expected to list a 20-per-cent stake of Didipio in the Philippines in H1/24, providing a significant inflow of cash, further strengthening the company's already attractive balance sheet." The Globe reported on Feb. 11, 2022, that Scotia Capital rated Oceanagold "sector outperform." It was then worth $1.93. The Globe reported on Jan. 27, 2023, that CIBC rated Oceanagold "outperformer." It was then worth $2.99. The Globe reported on July 21, 2023, that National Bank analyst Mike Parkin continued to rate Oceanagold "outperform," with a $4.25 share target. The shares could then be had for $2.62.
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