OceanaGold raised to ‘accumulate’ by Forsyth Barr as share decline outpaces fall in gold price

Wed, 09 Oct 2013

By Tina Morrison Oct 10 (BusinessDesk) – OceanaGold Corp., the worst performing stock on New Zealand’s benchmark index this year, was raised to ‘accumulate’ from ‘hold’ by brokerage Forsyth Barr after a decline in the share price exceeded softer gold prices. OceanaGold’s share price has fallen about 30 percent since the end of August, outpacing a 17 percent decline in the ASX Gold Index, Forsyth Barr analyst Andrew Harvey-Green said in a research note published yesterday. The stock today fell 1.2 percent to a three-month low of $1.65, taking...

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