Business
Why the OceanaGold (ASX:OGC) share price is slumping 9%
Investors have been quick to dump their OceanaGold Corp (ASX: OGC) shares today. At the time of writing, the OceanaGold share price has tanked nearly 9% in Friday’s trading session after the company released its full-year report.
What’s impacting the OceanaGold share price?
Earlier today, the OceanaGold share price fell by more than 11% after the company released its full-year financial report for the year ended 31 December 2020.
For the year, OceanaGold reported a loss of US$150.4 million compared to a US$14.5 million profit achieved in the year prior. A 23.2% fall in revenue of US$500.1 million for the year contributed to the loss.
OceanaGold attributed the fall in revenue to limited sales and lower annual production….
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