MENU

OceanaGold Corp (ASX:OGC) profit, revenue, cash and guidance up

Gold producer OceanaGold Corp (ASX: OGC) has released strong second quarter results, with net profit up 45%, revenue up 21% and cash balance up 45%.

With expansion at its Haile project in progress and its Waihi mine life extension on track, Oceana Gold has seen significant exploration results, leading to increased 2018 gold guidance of between 500,000 ounces and 540,000 ounces – up from between 480,000 ounces and 530,000 ounces.

The results mark 33 consecutive quarters of delivering return on invested capital for Oceana, a feat not many gold producers can stake claim to.

With Oceana shares back on the incline after a slump in early June things looks to be on the right track for the $2.4 billion market cap gold producer with its EBITDA margin well above its peer average and steady production expected through the second half.

Elsewhere in the gold space Evolution Mining Ltd (ASX: EVN) will be one to watch after an announcement La Mancha Group has reduced its holdings to 9.6% following a $261 million block sale overnight.

Regis Resources Limited (ASX: RRL) shares have also been on the up – rising 31% in the last 12 months.

The Disruptors: 3 Revolutionary Aussie Companies to Back for 2018

We’re living in one of the most exciting times in investing history. Innovation and a booming culture of entrepreneurship are constantly creating new companies with the potential to make forward-thinking investors very rich. Now more than ever, one small, smart investment could make a huge difference to your wealth.

That’s why at The Motley Fool we’ve been scrutinizing the ASX to uncover the kinds of companies that we believe could turn into the next Atlassian.

We’ve found three exciting companies that we believe re poised to perform in the new year. Click here to uncover these ideas!

Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.