OceanaGold OGC
CanadaBasic Materials · GoldUSD
0.00 USD (−100.0%)
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OceanaGold Corporation is a mid-cap gold miner with operations in the Philippines, New Zealand and the United States, extracting and selling gold and copper at market prices.
Key points
from its scores- ✓Very solid balance sheet9.0
- ✓High-quality business8.7
- ✓Attractive valuation8.7
- ✕Little or no dividend3.4
- ✕Unfavourable risk and backdrop3.8
AI analysis
bottom line, main risk, context and newsValuation is very attractive and the balance sheet is solid, but the risk of a reversal in the gold price and exposure to emerging jurisdictions warrant caution.
OceanaGold presents exceptional fundamentals: net cash (ND/EBITDA -0.42), operating margins of 50% and a P/E of 6.98 with EV/EBITDA of 3.73, making it very attractive on valuation. However, the 102% earnings growth reflects a cyclical peak in the gold price, and the recent drop in the metal (-305.60) along with a stronger dollar are headwinds to watch.
The main risk is revenue concentration in the gold price, which has fallen 7% in the last month, and dependence on regulatory and permitting stability in the Philippines, where governance is weaker than in other countries where it operates.
Context and risks
OceanaGold operates gold mines in the Philippines and New Zealand, with exposure to jurisdictions of variable governance. The main risk is operational and jurisdictional, not financial: the company has net cash and very high margins, but depends on regulatory and permitting stability in emerging countries. The fall in gold pressures the price of its production, although its low extraction cost (50% operating margin) gives it a significant cushion.
Is OceanaGold stock cheap or expensive?
at the analysis dateOn P/E and EV / EBITDA, it trades 63% below the Basic Materials median on average.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 7.0 | 19.2 | −64% |
| EV / EBITDA | 3.7 | 10.0 | −63% |
| Price / book | 2.3 | 2.3 | +2% |
| Price / sales | 2.4 | 2.2 | +8% |
Sector: median of the 141 Basic Materials companies analysed. In bold, the multiples used for the comparison.
Valuation score: 8.7 out of 10 (median for Basic Materials: 5.8).
Average analyst target: 0.00 USD, −100.0% versus the price.
A discount may reflect more risk or slower growth than its sector: Financial health 9.0 (sector 7.1), Growth 7.2 (sector 6.8).
Classic formulas with standard assumptions (5.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Basic Materials medianValuation
- P/E
- 7.0
- EV / EBITDA
- 3.7
- Price / book
- 2.3
- Price / sales
- 2.4
- PEG
- 0.20
- Market cap
- 5.9B USD
- Enterprise value
- 5.4B USD
Profitability
- ROE
- 37.3%
- ROA
- 23.6%
- ROIC (approx.)
- 47.6%
- Gross margin
- 64.2%
- Operating margin
- 50.0%
- Net margin
- 35.1%
- Free cash flow
- 699.8M USD
- FCF yield
- 11.9%
- Cash conversion
- 49%
Solvency
- Total debt
- 50.1M USD
- Net debt
- −604.7M USD
- Cash
- 654.8M USD
- EBITDA
- 1.4B USD
- Net debt / EBITDA
- −0.42
- Debt / equity
- 1.90
- Current ratio
- 1.63
- Quick ratio
- 1.20
Growth
- Revenue growth
- +49.7%
- Earnings growth
- +102.0%
- EPS (TTM)
- 3.78 USD
Dividend
- Dividend yield
- 1.1%
- Payout
- 6.4%
Risk and market
- Beta
- 1.50
- Analyst consensus
- none (0)
- Target price
- 0.00 USD
- 52-week range
- 20.18 – 43.33
Recent news
All OGC news →Compare it with its sector
All 141 in Basic Materials →Frequently asked questions about OceanaGold
Is OceanaGold stock cheap or expensive?
On P/E and EV / EBITDA, it trades 63% below the Basic Materials median on average. Valuation score: 8.7 out of 10 (median for Basic Materials: 5.8). Average analyst target: 0.00 USD, −100.0% versus the price. This is not investment advice.
What score does OceanaGold get on MeridIAn Screener?
It scores 7.3 out of 10, rank 98 of 2,130 (better than 95% of the companies analysed). Its strongest category is Financial health (9.0) and its weakest, Dividend (3.4). Analysis of 08/10/2026.
What is OceanaGold's P/E ratio?
Its P/E is 7.0: the share price equals 7.0 times earnings per share over the last 12 months. The Basic Materials median is 19.2.
How much is OceanaGold worth on the stock market?
Its market capitalisation is 5.9B USD and its enterprise value, debt included, is 5.4B USD.
How much debt does OceanaGold have?
It has more cash than debt: net cash of 604.7M USD.
Does OceanaGold pay a dividend?
Yes: its dividend yield is 1.14% and it pays out 6% of its earnings.
How has OceanaGold stock performed over the last year?
It has risen 12.5% over the last year, excluding dividends. Over the last 52 weeks it has traded between 20.18 and 43.33 USD. Past performance does not guarantee future results.