Orezone Gold Co. (OTCMKTS:ORZCF) Sees Significant Drop in Short Interest

Orezone Gold Co. (OTCMKTS:ORZCF) was the target of a significant decline in short interest during the month of May. As of May 15th, there was short interest totaling 2,417,841 shares, a decline of 53.4% from the April 30th total of 5,192,795 shares. Based on an average daily volume of 349,674 shares, the short-interest ratio is currently 6.9 days.

Orezone Gold Stock Performance

Shares of ORZCF traded up $0.05 during mid-day trading on Monday, hitting $1.87. The stock had a trading volume of 375,268 shares, compared to its average volume of 285,772. The business has a fifty day moving average price of $1.68 and a 200-day moving average price of $1.57. Orezone Gold has a 52 week low of $0.75 and a 52 week high of $2.30.

Analyst Upgrades and Downgrades

Separately, National Bank Financial started coverage on Orezone Gold in a research report on Thursday, April 16th. They issued an “outperform” rating on the stock. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

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.