Weak hands leave, institutionals come. Look also:
BMO has lowered its target price for (T.DPM), but target for (T.OGC) is raised.
BMO Nesbitt Burns is resuming coverage of OceanaGold Corp. (TSX: T.OGC, Stock Forum) following news that the company has completed a $93.3 million equity financing, produced the first copper-gold concentrate at its Didipio mine in the northern Philippines, and provided guidance for 2013.
“OceanaGold has been upgraded to outperform on better certainty with the Didipio project start-up,’’ said analyst David Haughton, who has raised his target for the stock to $4 from $3.50. “On-time delivery and successful ramp-up of the Didipio project is key for the company valuation and price performance,’’ he said.
OceanaGold has guided investors to anticipate up to 255,000 ounces of gold production at the Macraes and Reefton Goldfields in New Zealand, plus up to 70,000 ounces of gold and as much as 18,000 tonnes of by-product copper at Didipio.
On Thursday, OceanaGold shares fell 5% to $2.62, leaving the company with a market cap of $692.3 million, based on 263.2 million shares outstanding. The 52-week range is $3.70 and $1.70.
Read more at http://www.stockhouse.com/community-news/2012/dec/20/bmo-revises-targets-for-oceanagold,-dundee-pm.aspx#HpRmcbJGlZ0cMTMR.99
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$1.13 |
Change
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Mkt cap ! $2.921B | |||
| Open | High | Low | Value | Volume |
| $1.13 | $1.13 | $1.12 | $5.227M | 4.650M |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 60562 | $1.12 |
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| Price($) | Vol. | No. |
|---|---|---|
| $1.13 | 68371 | 4 |
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