The broker was pleased with the 2012 financials. Didipio ramp up is on track and production guidance has been reaffirmed. JP Morgan sees OceanaGold as a re-rating candidate for 2013.
The Overweight rating is maintained and the price target is steady at $3.70.
Target price is $3.70 Current Price is $2.58 Difference:$1.12 - (brackets indicate current price is over target). If OGC meets the JP Morgan target it will return approximately 43% (excluding dividends, fees and charges - negative figures indicate an expected loss).
The company's fiscal year ends in December.
JP Morgan forecasts a full year FY12 dividend of 0.00 cents and EPS of 7.44 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 34.68."
http://www.eurekareport.com.au/broker-alerts/1973
OGC Price at posting:
$2.44 Sentiment: None Disclosure: Held