OceanaGold Corporation ( (OCANF) ) has released its Q4 earnings. Here is a breakdown of the information OceanaGold Corporation presented to its investors.
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OceanaGold Corporation is a leading intermediate gold and copper producer with operations in the United States, the Philippines, and New Zealand. The company focuses on maximizing free cash flow and delivering strong shareholder returns through its diverse mining portfolio.
In its latest earnings report, OceanaGold reported record annual production and financial results for 2024. The company achieved a net profit of $192 million and a free cash flow of $245 million, surpassing its updated production guidance. Key highlights include record production at the Haile Gold Mine and strong performances at Macraes and Waihi.
The company recorded its highest ever quarterly and annual revenues at $427 million and $1.29 billion, respectively. Gold production reached 488,800 ounces, and copper production was 12,300 tonnes for the full year. OceanaGold also declared a doubling of its annual dividend and plans to repurchase up to $100 million of shares in 2025.
Looking ahead, OceanaGold management is optimistic about continued strong free cash flow in 2025 and anticipates a significant increase in gold production and free cash flow by 2026. The company plans to invest in growth and exploration projects while enhancing shareholder value through dividends and share buybacks.
