Tonix Pharmaceuticals stock halted ahead of FDA approval news
On Tuesday, TD Securities initiated coverage on OceanaGold Corp (TSX:OGC:CN) (OTC: OCANF), a mid-tier gold mining company, with a Buy rating and a price target of PHP5.50. The new coverage comes as the company aims to improve its operational consistency following what was described as an uneven performance in the year 2024.
Wayne Lam, an analyst at TD Securities, highlighted the ramp-up of the Haile underground mine as a key factor in the company’s future. The successful ramp-up is expected to contribute to steady free cash flow (FCF) generation and bolster OceanaGold (OTC:OCANF)’s net cash position. This financial stability is seen as a support for advancing internal growth projects.
Lam’s commentary emphasizes the potential for significant growth for OceanaGold, particularly during the prime years at Haile in 2026 and 2027. The company’s focus on operational consistency and internal growth is projected to yield positive results in the coming years.
The analyst’s positive outlook reflects confidence in OceanaGold’s ability to navigate past challenges and capitalize on its strategic initiatives. The establishment of the PHP5.50 price target indicates an expectation for the stock’s value to increase, aligning with the company’s anticipated growth trajectory.
Investors and market watchers will likely keep a close eye on OceanaGold’s performance, especially as it progresses with its Haile underground mine and other growth projects. The endorsement from TD Securities marks a noteworthy moment for the company as it strives to enhance its position in the gold mining sector.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.