Orezone Gold Corp. (ORE.TO) was upgraded to outperformer from neutral at CIBC Capital Markets.

Analyst Cosmos Chiu raised his price target on shares of the gold mining company to CA$6.00 from CA$3.50 following a recent visit to Orezone's Casa Berardi mine in Quebec.

This coincided with the release of the life-of-mine (LOM) plan, at a preliminary economic study (PEA) level.

"After the mine tour, we believe this PEA only reflects a base case scenario, with significant future upside, as no additional drilling from Orezone was included in this study," Chiu said in a note to clients.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)