Orezone Gold (OTCMKTS:ORZCF) Share Price Crosses Below 50-Day Moving Average – Here’s What Happened

Orezone Gold Co. (OTCMKTS:ORZCF) crossed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $2.10 and traded as low as $2.01. Orezone Gold shares last traded at $2.05, with a volume of 203,544 shares.

Wall Street Analysts Forecast Growth

Separately, Canadian Imperial Bank of Commerce upgraded Orezone Gold from a “neutral” rating to an “outperform” rating in a research note on Sunday, September 20th. Two equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the stock presently has a consensus rating of “Buy”.

Orezone Gold Stock Down 4.9%

The stock’s fifty day simple moving average is $2.10 and its 200-day simple moving average is $1.83.

About Orezone Gold

Orezone Gold Corporation is a Canadian mining company focused on the development and operation of gold assets in Burkina Faso, West Africa. Its principal asset is the Bomboré Gold Mine, an open-pit operation located in the country’s Ganzourgou Province. The company produces gold doré from ore processed at Bomboré and continues to evaluate opportunities to expand and optimize the operation. Orezone’s activities include mine development, mineral exploration, resource evaluation, processing, and related infrastructure and environmental management.