Fact based stock research
OceanaGold (TSX:OGC)

CA6752221037

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

OceanaGold stock research in summary

oceanagold.com

ANALYSIS: With an Obermatt Combined Rank of 40 (worse than 60% compared with investment alternatives), OceanaGold (Gold Production, Australia) shares have somewhat below-average financial characteristics compared with similar stocks. Shares of OceanaGold are a good value (attractively priced) with a consolidated Value Rank of 64 (better than 64% of alternatives) but show below-average growth (Growth Rank of 49), and are riskily financed (Safety Rank of 33), which means above-average debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 40, is a hold recommendation based on OceanaGold's financial characteristics. As the company OceanaGold's key financial metrics exhibit good value (Obermatt Value Rank of 64) but low growth (Obermatt Growth Rank of 49) and risky financing practices (Obermatt Safety Rank of 33), it may be a risky investment, because debt in times of crises can make things worse. The good value, better than 64% of comparable companies, may indicate the company's future is challenging. If you believe that low growth is temporary or just due to a specific current event, you may conclude that the good value of the stock provides an attractive investment opportunity. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	64
Growth Rank	49
Safety Rank	33
Combined Rank	40

Country	Australia
Industry	Gold Production
Index	Copper, Gold, TSX Composite
Size class	Medium

This stock has achievements: Top 10 Stock.

2-May-2024. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: OceanaGold

RESEARCH HISTORY	2021	2022	2023	2024
VALUE
VALUE	33	79	73	64
GROWTH
GROWTH	29	85	73	49
SAFETY
SAFETY	1	16	48	33
SENTIMENT
SENTIMENT	n/a	26	15	^new
360° VIEW
360° VIEW	n/a	63	44	^new

Most recent update of the stock research: 2-May-2024. Financial reporting date used for calculating ranks: 31-Dec-2023. Stock research history is based on the Obermatt Method. The higher the rank, the better OceanaGold is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2021	2022	2023	2024
VALUE
VALUE	33	79	73	64
GROWTH
GROWTH	29	85	73	49
SAFETY
SAFETY	1	16	48	33
COMBINED
COMBINED	2	76	76	40

Last update of combined financial performance: 2-May-2024. Stock analysis on combined financial performance: The higher the rank of OceanaGold the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 64 (better than 64% compared with alternatives), OceanaGold shares are more attractively priced than the majority of comparable stocks. The Value Rank is based on consolidating four value indicators, with three out of four indicators above average for OceanaGold. Price-to-Sales (P/S) is 51, which means that the stock price compared with what market professionals expect for future sales is lower than for 51% of comparable companies, indicating a good value regarding OceanaGold's revenue size. The same is valid for expected Price to Profits (or Price / Earnings, P/E), more favorable than for 58% of alternatives, and it's also true for the Price-to-Book Capital ratio (also referred to as market-to-book ratio) with a Price-to-Capital Rank of 80. But, compared with other companies in the same industry, dividend yields are expected to be lower than average; only 30% of all competitors have even lower dividend yields than OceanaGold (a Dividend Yield Rank of 30). 70% alternative investments in the same business provide a higher dividend yield. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 64, is a buy recommendation based on OceanaGold's stock price compared with the company's operational size and dividend yields. The below-average dividend yield may be a good sign, as it could mean the company has more attractive investment opportunities for the generated cash than to pay it out as dividends. A low dividend yield can also indicate a growth phase. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision. ...read more

VALUE METRICS	2021	2022	2023	2024
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	56	73	61	51
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	9	82	75	58
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	90	89	80	80
DIVIDEND YIELD
DIVIDEND YIELD	1	1	27	30
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	33	79	73	64

Last update of Value Rank: 2-May-2024. Stock analysis on value ratios: The higher the rank, the lower the value ratio of OceanaGold; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 49 (better than 49% compared with alternatives), OceanaGold shows a below-average growth dynamic in its industry. There is limited momentum in this company. The Growth Rank is based on consolidating four value indicators, with half of the indicators below and half above average for OceanaGold. Sales Growth has a rank of 57, which means that, currently, professionals expect the company to grow more than 57% of its competitors. Profit Growth with a rank of 58 is also above average. But Capital Growth has only a rank of 44, and Stock Returns with 48 are also below-average. Stock returns for OceanaGold have recently been below 52% of alternative investments. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 49, is a hold recommendation for growth and momentum investors. Are investors forecasting troubles based on the lack of operating investment activity at the company? This could be one explanation as to why stock returns are low. But stock returns can also be the result of correcting an error in the past, in this case, an overly optimistic outlook on the future, which is now more realistic. The Value Ranks may confirm such a picture. The more important growth indicators are revenues and profits, which are both above average for OceanaGold. This is a positive sign from the company's operational side and may give investors courage, despite the poor recent stock price performance. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with the Obermatt Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance is mixed here. ...read more

GROWTH METRICS	2021	2022	2023	2024
REVENUE GROWTH
REVENUE GROWTH	48	85	95	57
PROFIT GROWTH
PROFIT GROWTH	69	83	47	58
CAPITAL GROWTH
CAPITAL GROWTH	n/a	88	51	44
STOCK RETURNS
STOCK RETURNS	10	23	43	48
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	29	85	73	49

Last update of Growth Rank: 2-May-2024. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of OceanaGold.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 33 (better than 33% compared with alternatives), the company OceanaGold has financing practices on the riskier side, which means that their overall debt burden is above the industry average. This doesn't mean that the business of OceanaGold is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with just one indicator above average for OceanaGold and the other two below average. Leverage is at a rank of 70 meaning the company has a below-average debt-to-equity ratio. It has less debt than 70% of its competitors.Refinancing is at a rank of 11, which means that the portion of the debt about to be refinanced is above-average. It has more debt in the refinancing stage than 89% of its competitors. Liquidity is at a rank of 48, meaning that the company generates less profit to service its debt than 52% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 33 (worse than 67% compared with alternatives), OceanaGold has a financing structure that is riskier than that of its competitors. This is an indication that the company is on the riskier side when it comes to debt service. There is only below-market average liquidity, and a short-term refinancing issue might be around the corner. But in the long-term, the debt levels of OceanaGold are on the safer side. Investors may have a short-term debt challenge and liquidity issues with OceanaGold and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2021	2022	2023	2024
LEVERAGE
LEVERAGE	12	58	64	70
REFINANCING
REFINANCING	48	29	19	11
LIQUIDITY
LIQUIDITY	22	10	63	48
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	1	16	48	33

Last update of Safety Rank: 2-May-2024. Stock analysis on safety metrics: The higher the rank, the lower the leverage of OceanaGold and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2021	2022	2023	2024
ANALYST OPINIONS
ANALYST OPINIONS	n/a	25	78	^new
OPINIONS CHANGE
OPINIONS CHANGE	n/a	50	34	^new
PRO HOLDINGS
PRO HOLDINGS	n/a	31	39	^new
MARKET PULSE
MARKET PULSE	n/a	32	1	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	n/a	26	15	^new

Last update of Sentiment Rank: 2-May-2024. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for OceanaGold.
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