Orezone Gold Corporation Registered Shs (ORE) AI Stock Analysis

• Market Cap: AU$1.70B
• Dividend Yield: N/A
• Average Volume (3M): 603.61K
• Price to Earnings (P/E): 13.4
• Beta (1Y): 2.68
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: AU
• Employees: 838
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): 0.01
• Shares Outstanding: 599,354,400
• 10 Day Avg. Volume: 617,932
• 30 Day Avg. Volume: 603,607
• PEG Ratio: 0.33
• Price to Book (P/B): 1.20
• Price to Sales (P/S): 1.09
• P/FCF Ratio: 28.98
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: AU$3.75
• Price Target Upside: 30.66% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 78 Outperform
• Price Target: AU$3.00 ▲(4.53% Upside)
• Action: Reiterated Date: 02/04/26
• Date: Action: Reiterated 02/04/26

The score is primarily supported by strong financial performance led by rapid revenue growth and solid profitability, plus clear technical uptrend signals. The main offset is weaker free cash flow generation, with valuation appearing reasonable based on the provided P/E and no dividend yield data.

Positive Factors

Strong revenue growth

Orezone reported a 123.25% revenue increase in the latest year, reflecting meaningful demand and commercial scaling of its Bomboré asset. Sustained high top-line growth provides capacity to fund development, absorb cost shocks, and build long-term competitive scale in gold production.

Robust margins and efficiency

The company’s strong gross, net, EBIT and EBITDA margins point to low-cost operations and effective cost control from its open-pit model. Durable margin structure supports cash generation per ounce, resilience to commodity swings, and reinvestment capacity for long-term growth.

Improving leverage profile

An improving debt-to-equity trend and solid equity base enhance financial flexibility for project funding and working capital. Better leverage management reduces refinancing risk and supports capital allocation for Bomboré development and potential expansion over a multi‑quarter horizon.

Negative Factors

Declining free cash flow growth

A marked drop in free cash flow growth undermines the firm’s ability to self‑fund capex, pay down debt, or return capital. Even with healthy operating cash to net income, persistent FCF weakness can force external financing, raising long-term financing costs and strategic constraints.

Relatively high total debt

Elevated absolute debt levels increase interest and rollover risk, limiting flexibility in downturns or if production slips. While leverage has improved, the existing debt burden could strain liquidity and constrain investment choices if revenue growth moderates or costs rise.

Profitability volatility historically

Prior swings in profitability suggest sensitivity to operational disruptions, grade variability, or gold price moves. This historical volatility makes earnings less predictable and raises execution risk for sustaining margins and cash flow through multi‑period project development cycles.

Orezone Gold Corporation Registered Shs Business Overview & Revenue Model

Company Description

Orezone Gold Corporation engages in the mining, exploration, and development of gold properties. Its flagship property is the 90%-owned Bomboré gold project, which covers an area of approximately 12,963 hectares comprising a exploitation permit and four exploration permits located in Burkina Faso, West Africa. Orezone Gold Corporation was incorporated in 2008 and is headquartered in Vancouver, Canada.

How the Company Makes Money

Orezone Gold Corporation generates revenue primarily through the mining and sale of gold. The company engages in the extraction of gold from its mineral resources, particularly from the Bomboré Project, which is expected to produce gold at a competitive cost. Revenue streams include the direct sale of gold bullion and potentially through the sale of gold concentrate. The company may also benefit from strategic partnerships with other mining entities and financial institutions, as well as from favorable market conditions for gold prices. Additionally, the company might explore opportunities in joint ventures or off-take agreements, which could provide upfront capital and secure future revenue from gold production.

Orezone Gold Corporation Registered Shs Financial Statement Overview

Summary

Income statement strength (score 85) is driven by very strong revenue growth and robust margins. Balance sheet is solid (score 78) with improving leverage, but total debt remains a watch item. Cash flow is the main drag (score 65) due to a significant decline in free cash flow growth despite healthy operating cash flow relative to net income.

Income Statement

Orezone Gold Corporation has demonstrated impressive revenue growth, with a 123.25% increase in the latest year. The gross profit margin is strong, and the company has maintained a healthy net profit margin. The EBIT and EBITDA margins are also robust, indicating efficient operations and cost management. However, the company has experienced fluctuations in profitability in previous years, which could pose a risk if not managed carefully.

Balance Sheet

The balance sheet shows a solid equity position with a debt-to-equity ratio that has improved over time, reflecting better leverage management. The return on equity is strong, indicating effective use of shareholder funds. However, the company has a relatively high level of total debt, which could be a concern if revenue growth slows down.

Cash Flow

The cash flow statement reveals challenges in free cash flow growth, with a significant decline in the latest year. The operating cash flow to net income ratio is healthy, suggesting good cash generation relative to net income. However, the negative free cash flow growth rate highlights potential liquidity issues that need to be addressed to ensure long-term financial stability.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Jun 2021
Income Statement
Total Revenue	338.01M	283.52M	271.49M	43.43M	0.00	63.64M
Gross Profit	150.28M	117.71M	97.15M	16.66M	0.00	35.48M
EBITDA	157.19M	127.03M	107.88M	6.40M	-18.43M	13.27M
Net Income	67.41M	55.71M	43.15M	930.00K	-18.57M	-67.18M
Balance Sheet
Total Assets	598.50M	448.58M	320.08M	252.28M	140.50M	1.01B
Cash, Cash Equivalents and Short-Term Investments	85.33M	74.02M	19.48M	9.16M	36.08M	193.94M
Total Debt	77.38M	81.06M	93.40M	122.87M	46.41M	252.75M
Total Liabilities	221.49M	184.57M	173.72M	181.95M	86.62M	468.19M
Stockholders Equity	372.26M	257.78M	148.87M	79.12M	63.98M	500.57M
Cash Flow
Free Cash Flow	-44.40M	10.69M	35.40M	-99.47M	-82.87M	-85.07M
Operating Cash Flow	74.90M	57.70M	79.95M	6.58M	-5.94M	-11.79M
Investing Cash Flow	-117.74M	-45.97M	-43.78M	-105.98M	-76.75M	-70.84M
Financing Cash Flow	60.27M	45.07M	-25.38M	74.03M	108.49M	149.37M

Orezone Gold Corporation Registered Shs Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ORE	78 Outperform	AU$1.70B	13.42	―	―	―	―
MAH	72 Outperform	$1.56B	17.25	10.88%	2.24%	19.50%	37.55%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
BOE	61 Neutral	$678.73M	-20.70	-6.67%	―	―	-164.37%
CHN	53 Neutral	AU$751.73M	-31.03	-16.67%	―	―	38.72%
FFM	49 Neutral	AU$1.65B	-197.25	-4.41%	―	―	73.09%
A4N	43 Neutral	AU$839.73M	-18.84	-13.97%	―	620.73%	-21.19%

Orezone Gold Corporation Registered Shs Corporate Events

Orezone Gold Reports December Shift from ASX CDIs to TSX Common Shares

Orezone Gold Corporation reported its December 2025 statement of CHESS Depositary Interests (CDIs) on issue, showing a decline in CDIs over quoted securities on the ASX from 74,203,801 to 57,782,225, driven by net transfers between CDIs and common stock listed on the TSX. Over the same period, the company’s TSX-listed common shares increased from 524,056,320 to 540,477,896, reflecting this shift in the form of holdings rather than an overall change in capital structure, while outstanding options remained unchanged, indicating ongoing investor repositioning between the ASX and TSX but operationally stable equity terms.

The most recent analyst rating on (AU:ORE) stock is a Buy with a A$3.75 price target. To see the full list of analyst forecasts on Orezone Gold Corporation Registered Shs stock, see the AU:ORE Stock Forecast page.

Orezone Gold Corporation Maintains CDI Levels, Increases Common Stock

Orezone Gold Corporation announced that there has been no change in the number of CHESS Depositary Interests (CDIs) issued over quoted securities for November 2025, maintaining a total of 74,203,801 CDIs. Additionally, there was an increase in the number of common stocks due to the exercise of Deferred Share Units (DSUs), reflecting a net difference of 375,282 securities. This update indicates stability in the company’s CDI issuance while highlighting a slight increase in common stock, which may have implications for shareholder value and market perception.

The most recent analyst rating on (AU:ORE) stock is a Buy with a A$3.25 price target. To see the full list of analyst forecasts on Orezone Gold Corporation Registered Shs stock, see the AU:ORE Stock Forecast page.

Orezone Gold Corporation Reports Minor Increase in CDIs

Orezone Gold Corporation announced a slight increase in the number of CHESS Depositary Interests (CDIs) issued over quoted securities, with a net difference of 1,000 CDIs due to transfers between CDIs and common stock. This adjustment reflects the company’s ongoing management of its securities and may influence its market positioning on the ASX.

The most recent analyst rating on (AU:ORE) stock is a Buy with a A$3.00 price target. To see the full list of analyst forecasts on Orezone Gold Corporation Registered Shs stock, see the AU:ORE Stock Forecast page.