Orezone Gold (OTCMKTS:ORZCF) Trading 5.7% Higher – Time to Buy?

Orezone Gold Co. (OTCMKTS:ORZCF) shares rose 5.7% on Tuesday . The company traded as high as $2.17 and last traded at $2.15. Approximately 558,880 shares were traded during mid-day trading, an increase of 111% from the average daily volume of 264,531 shares. The stock had previously closed at $2.0350.

Analyst Ratings Changes

A number of research firms have recently commented on ORZCF. Raymond James Financial reiterated an “outperform” rating on shares of Orezone Gold in a report on Friday, October 10th. CIBC reissued a “neutral” rating on shares of Orezone Gold in a report on Tuesday. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy”.

Orezone Gold Price Performance

The firm’s 50-day moving average is $1.34 and its 200 day moving average is $1.08.

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.