National Bank Financial Forecasts Strong Price Appreciation for Orezone Gold (CVE:ORE) Stock

Orezone Gold (CVE:ORE) had its target price lifted by National Bank Financial from C$4.00 to C$4.25 in a note issued to investors on Thursday, BayStreet reports. The brokerage presently has an “outperform” rating on the stock. National Bank Financial’s price target would indicate a potential upside of 240.00% from the company’s current price.

Separately, Canadian Imperial Bank of Commerce upgraded shares of Orezone Gold from a “hold” rating to an “outperformer” rating and lifted their price target for the company from C$3.50 to C$6.00 in a research report on Monday. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of C$4.33.

Orezone Gold Price Performance

Shares of ORE remained flat at C$1.25 during midday trading on Thursday. The company’s stock had a trading volume of 149,842 shares, compared to its average volume of 229,152. The business has a fifty day simple moving average of C$1.25 and a 200 day simple moving average of C$1.25. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.30 and a current ratio of 2.56. The company has a market capitalization of C$404.42 million and a PE ratio of -14.88. Orezone Gold has a twelve month low of C$0.87 and a twelve month 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.