Raymond James Cuts Orezone Gold (ORE) Price Target to C$1.10

Orezone Gold (CVE:ORE) had its target price cut by investment analysts at Raymond James from C$1.25 to C$1.10 in a research report issued on Friday. Raymond James’ target price points to a potential upside of 69.23% from the company’s current price.

Separately, Beacon Securities reiterated a “buy” rating on shares of Orezone Gold in a research report on Wednesday, October 10th.

ORE traded down C$0.03 during trading on Friday, hitting C$0.65. The company’s stock had a trading volume of 123,500 shares, compared to its average volume of 89,294. Orezone Gold has a one year low of C$0.57 and a one year high of C$1.02.

Orezone Gold (CVE:ORE) last released its quarterly earnings results on Wednesday, August 22nd. The company reported C($0.03) earnings per share for the quarter.

In other news, insider Sun Valley Gold Llc acquired 50,000 shares of Orezone Gold stock in a transaction dated Wednesday, October 17th. The stock was purchased at an average cost of C$0.67 per share, with a total value of C$33,500.00. Also, Director Michael Henreid Halvorson acquired 250,000 shares of Orezone Gold stock in a transaction dated Wednesday, August 15th. The stock was purchased at an average cost of C$0.60 per share, with a total value of C$150,000.00. Insiders acquired 1,507,700 shares of company stock worth $911,996 over the last quarter.

About Orezone Gold

Orezone Gold Corporation engages in the investigation, acquisition, exploration, development, and operation of resource projects. Its principal property is the Bomboré gold project located in Burkina Faso, West Africa. The company was incorporated in 2008 and is headquartered in Ottawa, Canada. Orezone Gold Corporation(TSXV:ORE) operates independently of IAMGOLD Burkina Faso Inc as of February 25, 2009.

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