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OceanaGold ( (TSE:OGC) ) has issued an announcement.
On May 12, 2026, OceanaGold reported new high-grade drill results from its ongoing exploration and resource conversion program at the Haile Gold Mine, highlighting particularly strong intercepts at the Horseshoe and Ledbetter underground deposits. The results, which also include promising early holes at the emerging Clydesdale and Pisces targets, point to potential reserve growth near existing infrastructure, greater confidence in down-plunge mineralization, and an expanded pipeline of underground opportunities as the company advances a 34,500-metre drilling campaign at Haile through 2026.
At Horseshoe, conversion and extension drilling in upper, middle, and lower zones returned multiple thick, high-grade intersections that support both resource expansion and future reserve updates in proximity to current mine workings. At Ledbetter, new underground-focused drilling followed a shift away from final open-pit mining and delivered grades that in some areas exceeded model expectations, while continued drilling at Clydesdale and Pisces aims to refine new high-grade zones that could enhance Haile’s long-term production profile and strengthen OceanaGold’s position in U.S. underground gold mining.
The most recent analyst rating on (TSE:OGC) stock is a Buy with a C$72.50 price target. To see the full list of analyst forecasts on OceanaGold stock, see the TSE:OGC Stock Forecast page.
Spark’s Take on OGC Stock
According to Spark, TipRanks’ AI Analyst, OGC is a Outperform.
The score is driven primarily by very strong financial performance (high margins, strong cash generation, and minimal leverage) and a positive earnings outlook (higher production, lower costs, strong capital returns). The main constraint is weak technical momentum (below key moving averages with negative MACD), while valuation is supportive due to a low P/E.
To see Spark’s full report on OGC stock, click here.
More about OceanaGold
OceanaGold Corporation is a multinational gold mining and exploration company listed on the TSX and NYSE, with key operations including the Haile Gold Mine in the United States. The company focuses on developing and expanding underground and open-pit gold deposits, leveraging extensive drilling programs to grow reserves and convert resources in established mining districts.
Average Trading Volume: 952,919
Technical Sentiment Signal: Buy
Current Market Cap: C$9.83B
See more data about OGC stock on TipRanks’ Stock Analysis page.