2012 price target of $4

OceanaGold Corporation ASX:OGC Upgraded, August 09, 2011 16:03 ET


OceanaGold Corporation ASX:OGC has been upgraded to a strong buy with a 2012 price target of $4 issued today by Shayne Heffernan.

OceanaGold Corporation announced that the Company has now adjusted its fiscal 2011 production guidance to 255,000 - 270,000 ozs Au, from 260,000-280,000 ozs Au.

OceanaGold Corporation (OceanaGold) is an Australia-based company. The Company is engaged in exploration and the development and operation of gold and other mineral mining activities. It is a significant gold producer operating two open cut mines and an underground mine at Macraes and Reefton in New Zealand. The Company also has the Didipio Gold-Copper Project in the Philippines as part of its portfolio. The Didipio Project is held under a Financial and Technical Assistance Agreement (FTAA) granted by the Philippines Government in 1994.