OceanaGold price target raised to C$6 from C$5.50 at Raymond James

Raymond James analyst Farooq Hamed raised the firm’s price target on OceanaGold (OCANF) to C$6 from C$5.50 and keeps an Outperform rating on the shares as part of a Q4 earnings preview. The firm says Q4 was the strongest production quarter for the year among a number of mid-tier gold producers. It expects the trend beginning in Q4 of mid-tiers showing better operating performance than the seniors can continue in 2025. Given the expected operating outperformance from mid-tiers in 2025, Raymond James expects the mid-tier gold producers can continue to attract investment due to lagging valuations versus seniors, the analyst tells investors in a research note.