Short Interest in Orezone Gold Co. (OTCMKTS:ORZCF) Rises By 94.7%

Orezone Gold Co. (OTCMKTS:ORZCFGet Rating) was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 51,800 shares, an increase of 94.7% from the March 31st total of 26,600 shares. Based on an average daily volume of 139,300 shares, the days-to-cover ratio is presently 0.4 days.

Shares of OTCMKTS ORZCF traded up $0.04 during trading hours on Friday, hitting $1.16. 80,340 shares of the company’s stock were exchanged, compared to its average volume of 46,891. Orezone Gold has a 1-year low of $0.77 and a 1-year high of $1.43. The company’s 50-day moving average price is $1.22 and its 200-day moving average price is $1.06.

A number of research firms have issued reports on ORZCF. Canaccord Genuity Group increased their price target on Orezone Gold from C$2.75 to C$3.25 and gave the company a “buy” rating in a research report on Thursday, April 7th. Raymond James raised their price objective on Orezone Gold from C$2.00 to C$2.40 in a report on Wednesday, April 20th.

Orezone Gold Company Profile (Get Rating)

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.

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