OceanaGold reports high-grade drilling while OceanaGold stock has four Buys

Published on 10/01/2026 at 12:29 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

OceanaGold stock has four Buy ratings and one Hold. In the second quarter of 2026, revenue reached USD 647.30 million and earnings per share was USD 0.99.

OGC, CA6752221037, Illustration mit AI erstellt.

OceanaGold (ISIN CA6752221037) reported a 6.30-meter intercept grading 97.20 grams of gold per tonne at Wharekirauponga on September 24, 2026. The company also has four Buy ratings and one Hold, according to Markets Insider.

Drilling expands the Waihi story

The SEC filing shows results from 16 new drill holes at Wharekirauponga, located 10 kilometers north of OceanaGold's Waihi operation in New Zealand. The standout result measured 6.30 meters at 97.20 grams per tonne, while another hole returned 8.50 meters at 41.50 grams per tonne.

The latest drilling also produced 5.90 meters at 25.90 grams per tonne and 4.20 meters at 32.40 grams per tonne. Five drill rigs are now active, and the company said the southern high-grade zone remains open along strike, up-dip and at depth, supporting potential resource conversion.

Quarterly cash generation adds evidence

OceanaGold reported USD 647.30 million of revenue and USD 0.99 of earnings per share in the second quarter of 2026, according to the company's earnings-call transcript published by Yahoo Finance. Adjusted EBITDA margin reached 61.00 percent, while free cash flow was USD 130.00 million in the quarter.

The comparison with the prior year was material: earnings per share increased 102.00 percent, EBITDA rose 84.00 percent and operating cash flow increased 38.00 percent in the second quarter of 2026, as reported in the same transcript. The company also returned USD 78.00 million through dividends and buybacks during the period.

Leadership change meets analyst support

OceanaGold said on September 23, 2026, that President and CEO Gerard Bond intends to retire in April 2027. The company plans to use an international search firm and said Bond will remain a special adviser for six months after his departure, according to OceanaGold.

RBC Capital maintained a Buy rating and a C$66.00 price target in a report dated September 15, 2026, according to Markets Insider. That target sits alongside the drilling-led growth case, while the planned succession places execution responsibility on the next leadership team.

OGC market position

OceanaGold's market capitalization was CAD 8.7 billion as of September 30, 2026. The company is listed on the Toronto Stock Exchange under OGC and operates four mines across the United States, New Zealand and the Philippines.