OceanaGold Non Currrent Assets Other vs Common Stock Analysis

OGC Stock  CAD 4.46  0.01  0.22%   
OceanaGold financial indicator trend analysis is much more than just breaking down OceanaGold prevalent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether OceanaGold is a good investment. Please check the relationship between OceanaGold Non Currrent Assets Other and its Common Stock accounts. Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in OceanaGold. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Non Currrent Assets Other vs Common Stock

Non Currrent Assets Other vs Common Stock Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of OceanaGold Non Currrent Assets Other account and Common Stock. At this time, the significance of the direction appears to have very strong relationship.
The correlation between OceanaGold's Non Currrent Assets Other and Common Stock is 0.88. Overlapping area represents the amount of variation of Non Currrent Assets Other that can explain the historical movement of Common Stock in the same time period over historical financial statements of OceanaGold, assuming nothing else is changed. The correlation between historical values of OceanaGold's Non Currrent Assets Other and Common Stock is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Non Currrent Assets Other of OceanaGold are associated (or correlated) with its Common Stock. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Common Stock has no effect on the direction of Non Currrent Assets Other i.e., OceanaGold's Non Currrent Assets Other and Common Stock go up and down completely randomly.

Correlation Coefficient

0.88
Relationship DirectionPositive 
Relationship StrengthStrong

Non Currrent Assets Other

Assets that are not physical or tangible, expected to provide value for more than one year, and not easily converted into cash, such as long-term investments or patents.

Common Stock

Most indicators from OceanaGold's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into OceanaGold current financial condition. On the other hand, looking into the entire matrix of fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in OceanaGold. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.
At this time, OceanaGold's Tax Provision is very stable compared to the past year. As of the 11th of December 2024, Issuance Of Capital Stock is likely to grow to about 147.7 M, while Selling General Administrative is likely to drop about 43.4 M.
 2021 2022 2023 2024 (projected)
Gross Profit232.7M259.8M298.7M153.1M
Total Revenue744.7M984.7M1.0B525.8M

OceanaGold fundamental ratios Correlations

0.670.380.870.990.990.60.790.790.191.00.90.890.190.310.980.980.910.660.65-0.120.930.78-0.080.980.73
0.670.260.760.580.650.820.270.520.410.650.580.720.410.180.670.670.860.370.420.260.850.630.450.710.46
0.380.260.390.350.380.040.320.290.380.370.470.420.38-0.080.360.340.420.21-0.11-0.130.420.33-0.380.360.47
0.870.760.390.820.890.730.610.750.150.870.820.790.150.380.860.850.840.620.450.020.940.690.30.830.65
0.990.580.350.820.980.530.810.760.150.990.890.870.150.290.970.970.860.640.68-0.180.870.75-0.160.970.7
0.990.650.380.890.980.610.810.80.150.990.890.870.150.310.960.980.910.670.6-0.140.940.75-0.060.960.76
0.60.820.040.730.530.610.30.48-0.190.620.540.67-0.190.280.560.650.680.390.51-0.020.730.290.560.570.38
0.790.270.320.610.810.810.30.84-0.040.80.660.7-0.040.390.70.790.630.80.43-0.190.650.48-0.270.720.84
0.790.520.290.750.760.80.480.840.10.780.710.670.10.710.770.760.760.920.52-0.060.780.66-0.070.790.86
0.190.410.380.150.150.15-0.19-0.040.10.130.130.161.0-0.160.270.120.37-0.03-0.10.480.30.62-0.120.310.16
1.00.650.370.870.990.990.620.80.780.130.890.890.130.30.960.990.90.650.66-0.160.920.73-0.070.960.72
0.90.580.470.820.890.890.540.660.710.130.890.780.130.330.890.880.810.620.58-0.150.840.72-0.110.880.72
0.890.720.420.790.870.870.670.70.670.160.890.780.160.230.840.910.840.590.590.030.850.640.020.870.66
0.190.410.380.150.150.15-0.19-0.040.11.00.130.130.16-0.160.270.120.37-0.03-0.10.480.30.62-0.120.310.16
0.310.18-0.080.380.290.310.280.390.71-0.160.30.330.23-0.160.340.290.30.680.39-0.050.350.340.070.340.47
0.980.670.360.860.970.960.560.70.770.270.960.890.840.270.340.950.90.640.65-0.050.920.86-0.10.990.67
0.980.670.340.850.970.980.650.790.760.120.990.880.910.120.290.950.910.630.63-0.080.920.71-0.060.950.73
0.910.860.420.840.860.910.680.630.760.370.90.810.840.370.30.90.910.610.490.060.980.810.040.920.76
0.660.370.210.620.640.670.390.80.92-0.030.650.620.59-0.030.680.640.630.610.4-0.030.640.59-0.110.650.86
0.650.42-0.110.450.680.60.510.430.52-0.10.660.580.59-0.10.390.650.630.490.4-0.310.490.42-0.020.70.23
-0.120.26-0.130.02-0.18-0.14-0.02-0.19-0.060.48-0.16-0.150.030.48-0.05-0.05-0.080.06-0.03-0.310.050.230.33-0.04-0.04
0.930.850.420.940.870.940.730.650.780.30.920.840.850.30.350.920.920.980.640.490.050.790.150.920.75
0.780.630.330.690.750.750.290.480.660.620.730.720.640.620.340.860.710.810.590.420.230.79-0.140.850.62
-0.080.45-0.380.3-0.16-0.060.56-0.27-0.07-0.12-0.07-0.110.02-0.120.07-0.1-0.060.04-0.11-0.020.330.15-0.14-0.09-0.21
0.980.710.360.830.970.960.570.720.790.310.960.880.870.310.340.990.950.920.650.7-0.040.920.85-0.090.69
0.730.460.470.650.70.760.380.840.860.160.720.720.660.160.470.670.730.760.860.23-0.040.750.62-0.210.69
Click cells to compare fundamentals

OceanaGold Account Relationship Matchups

OceanaGold fundamental ratios Accounts

201920202021202220232024 (projected)
Total Assets2.1B2.3B2.3B2.3B2.4B1.5B
Short Long Term Debt Total228.4M312.9M370.9M253.4M231.8M225.9M
Other Current Liab6.9M67.2M21.9M(6.1M)27.5M21.6M
Total Current Liabilities202.7M266.3M202.3M229.6M311M176.2M
Total Stockholder Equity1.6B1.6B1.5B1.7B1.7B1.0B
Property Plant And Equipment Net1.5B1.6B1.6B1.7B1.9B1.1B
Net Debt179.4M133.9M237.9M170.2M170.1M116.1M
Retained Earnings391M240.6M236.9M369.5M438.3M460.2M
Accounts Payable120.5M132.5M143.2M174.7M212.3M222.9M
Cash49M179M133M83.2M61.7M98.5M
Non Current Assets Total1.9B1.9B2.0B2.0B2.1B1.3B
Non Currrent Assets Other185.6M312.7M190.2M292.9M264.2M137.6M
Other Assets299.7M326.3M337.6M243.2M279.7M235.8M
Cash And Short Term Investments49M179M133M83.2M61.7M98.5M
Net Receivables1.9M7.5M18.4M34.1M44.2M46.4M
Common Stock Total Equity1.1B1.1B1.1B1.2B1.4B808.9M
Common Stock Shares Outstanding628.8M633.2M652.5M717.5M722.6M450.6M
Liabilities And Stockholders Equity2.1B2.3B2.3B2.3B2.4B1.5B
Non Current Liabilities Total305.9M422.1M507.7M387.7M402.2M297.5M
Inventory145.4M108.2M127.1M147.1M205.3M215.6M
Other Current Assets19.6M12.4M19.2M24.5M14.3M16.1M
Other Stockholder Equity48.6M56.4M63.9M71.1M73.2M129.3M
Total Liab508.6M688.4M710M617.3M713.2M473.7M
Total Current Assets216.2M307.1M297.7M288.9M325.5M214.9M
Short Term Debt49.6M23.5M28.8M56.5M34.8M42.7M
Common Stock1.1B1.2B1.2B1.2B1.2B911.4M
Current Deferred Revenue34.8M39.3M42.7M76.7M88.2M92.6M
Accumulated Other Comprehensive Income17M38.4M17.3M2.2M(14.6M)(13.9M)
Other Liab102.3M132.7M165.6M163.1M187.6M120.2M
Net Tangible Assets1.6B1.6B1.5B1.7B1.9B1.4B
Long Term Investments2.6M2.7M5.5M1.2M600K0.0
Property Plant Equipment1.5B1.6B1.6B1.7B1.9B1.4B
Long Term Debt Total203.6M289.4M342.1M224.6M258.3M251.5M
Capital Lease Obligations78.4M106.2M113.2M98.4M113.2M80.9M
Non Current Liabilities Other3.8M3.6M3.1M2.5M2.3M3.8M
Cash And Equivalents49M179M133M83.2M95.7M109.1M
Net Invested Capital1.7B1.8B1.8B1.8B2.0B2.0B

Pair Trading with OceanaGold

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if OceanaGold position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in OceanaGold will appreciate offsetting losses from the drop in the long position's value.

Moving against OceanaGold Stock

  0.74INFM Infinico Metals CorpPairCorr
  0.46ORE Orezone Gold CorpPairCorr
The ability to find closely correlated positions to OceanaGold could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace OceanaGold when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back OceanaGold - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling OceanaGold to buy it.
The correlation of OceanaGold is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as OceanaGold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if OceanaGold moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for OceanaGold can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.
Pair CorrelationCorrelation Matching

Other Information on Investing in OceanaGold Stock

Balance Sheet is a snapshot of the financial position of OceanaGold at a specified time, usually calculated after every quarter, six months, or one year. OceanaGold Balance Sheet has two main parts: assets and liabilities. Liabilities are the debts or obligations of OceanaGold and are divided into current liabilities and long term liabilities. An asset, on the other hand, is anything of value that can be converted into cash and which OceanaGold currently owns. An asset can also be divided into two categories, current and non-current.