Orezone Gold (OTCMKTS:ORZCF) Shares Down 3.2% – Here’s What Happened

Orezone Gold Co. (OTCMKTS:ORZCF)’s stock price was down 3.2% during mid-day trading on Wednesday . The company traded as low as $1.4550 and last traded at $1.4645. Approximately 142,321 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 312,624 shares. The stock had previously closed at $1.5130.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. National Bank Financial initiated coverage on shares of Orezone Gold in a research note on Thursday, April 16th. They set an “outperform” rating for the company. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Orezone Gold in a research report on Tuesday, January 27th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Orezone Gold Stock Performance

The firm’s 50-day moving average is $1.69 and its 200 day moving average is $1.47.

About Orezone Gold

Orezone Gold Corporation is a Canadian-based gold producer and developer listed on the OTCMKTS under the ticker ORZCF. The company focuses on bringing its flagship Bomboré gold project in Burkina Faso into full-scale commercial operation. Orezone Gold’s corporate office is located in Vancouver, British Columbia, and its shares trade on both North American and international exchanges.

Orezone Gold’s primary activities include exploration, project development, and mining operations. The company holds a 90% interest in the Bomboré licence, with the government of Burkina Faso retaining a 10% carried interest.