Omai Gold Mines (CVE:OMG) Shares Down 4.9% – What’s Next?

Shares of Omai Gold Mines Corp. (CVE:OMG) fell 4.9% during mid-day trading on Thursday . The company traded as low as C$1.88 and last traded at C$1.95. 938,069 shares traded hands during mid-day trading, a decline of 40% from the average session volume of 1,567,062 shares. The stock had previously closed at C$2.05.

Wall Street Analyst Weigh In

OMG has been the subject of a number of recent analyst reports. National Bank Financial set a C$3.00 price objective on Omai Gold Mines and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. Cormark raised shares of Omai Gold Mines to a “moderate buy” rating in a report on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$2.38.

Omai Gold Mines Stock Performance

The firm has a fifty day simple moving average of C$1.79 and a two-hundred day simple moving average of C$1.39. The firm has a market cap of C$1.27 billion, a PE ratio of -149.22 and a beta of 3.23.