Orezone Gold (CVE:ORE) Upgraded by Canadian Imperial Bank of Commerce to Outperformer Rating

Orezone Gold (CVE:ORE) was upgraded by Canadian Imperial Bank of Commerce from a “neutral” rating to an “outperformer” rating in a report released on Monday, BayStreet reports. The brokerage presently has a C$6.00 price target on the stock, up from their prior price target of C$3.50. Canadian Imperial Bank of Commerce’s price target would indicate a potential upside of 380.00% from the company’s previous close.

Separately, National Bank Financial raised their target price on Orezone Gold from C$3.25 to C$3.50 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of C$4.08.

Orezone Gold Price Performance

Shares of CVE:ORE remained flat at C$1.25 on Monday. The company’s stock had a trading volume of 149,842 shares, compared to its average volume of 229,152. The company has a quick ratio of 2.30, a current ratio of 2.56 and a debt-to-equity ratio of 0.21. The firm’s 50-day moving average price is C$1.25 and its 200-day moving average price is C$1.25. The stock has a market cap of C$404.42 million and a P/E ratio of -14.88. Orezone Gold has a 1 year low of C$0.87 and a 1 year high of C$1.70.

About Orezone Gold

Orezone Gold Corporation engages in the acquisition, exploration, and development of resource properties. Its flagship property is the 90%-owned Bomboré gold project located in Burkina Faso, West Africa. The company was incorporated in 2008 and is headquartered in Vancouver, Canada.