{"id":328749,"date":"2024-08-05T00:40:00","date_gmt":"2024-08-04T16:40:00","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=328749"},"modified":"2024-08-05T01:36:15","modified_gmt":"2024-08-04T17:36:15","slug":"trade-the-news-ogps-net-income-drops-40-in-1st-half-this-year","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-ogps-net-income-drops-40-in-1st-half-this-year\/","title":{"rendered":"Trade the News: OGP&#8217;s Net Income drops 40% in 1st half this year"},"content":{"rendered":"\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td><strong>Potential Impact of this News<\/strong><\/td><td><strong>POSITIVE on the stock price<\/strong><\/td><\/tr><tr><td><strong>Company<\/strong><\/td><td>Oceana Gold Philippines Inc.<\/td><\/tr><tr><td><strong>Stock Code<\/strong><\/td><td>OGP<\/td><\/tr><tr><td><strong>Long-term Recommendation on the Stock<\/strong><\/td><td>Sell<\/td><\/tr><tr><td><strong>1-Year Target Price<\/strong><\/td><td>PHP 11.15<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<div style=\"height:26px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Oceana Gold Philippines Inc. (OGP) recorded a 39.7% decline in net income in the first half of the year at $25.7 million compared to $42.6 million in the same period last year. The company said in a disclosure to the Philippine Stock Exchange that it experienced lower gold and copper production for the period.<\/p>\n\n\n\n<p>OGP booked an 11% drop in revenues to $160.9 million from last year\u2019s $180.8 million.<\/p>\n\n\n\n<p>Its year-to-date gold production dropped 24% to 49.4 koz, while copper production slipped 15.9% to 5.8 koz. This resulted to an 11.0% decline in revenues to $160.9-Million while higher costs dragged net income down by 39.7% to $25.7-Million.<\/p>\n\n\n\n<p>OGP expressed optimism performance in the second half of the year will be better.<\/p>\n\n\n\n<p>\u201cWe expect gold production to increase in the second half of the year as we access higher grade ore and increase mining rates from the underground. We are also continuing to invest in exploration, both nearmine and regionally, and look forward to sharing results in the future,\u201d said Joan Adaci-Cattiling, OGP president, in a statement.<\/p>\n\n\n\n<p>OGP currently explores the Didipio copper and gold mine traversing the provinces of Nueva Vizcaya and Quirino.<\/p>\n\n\n\n<div style=\"height:26px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p style=\"font-size:16px\"><em><em><em>This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about <a href=\"https:\/\/www.pinoyinvestor.com\/smartinvestor\/our-partner-brokers\/\">our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-328749","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/328749","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=328749"}],"version-history":[{"count":2,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/328749\/revisions"}],"predecessor-version":[{"id":328764,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/328749\/revisions\/328764"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=328749"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=328749"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=328749"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}