Canadian Imperial Bank of Commerce Upgrades Orezone Gold (CVE:ORE) to “Outperformer”

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

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

Orezone Gold Stock Performance

ORE stock remained flat at C$1.25 during midday trading on Monday. The company’s stock had a trading volume of 149,842 shares, compared to its average volume of 229,152. The firm has a market cap of C$404.42 million and a price-to-earnings ratio of -14.88. Orezone Gold has a fifty-two week low of C$0.87 and a fifty-two week high of C$1.70. The stock’s 50-day simple moving average is C$1.25 and its 200 day simple moving average is C$1.25. The company has a quick ratio of 2.30, a current ratio of 2.56 and a debt-to-equity ratio of 0.21.

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.