03 Mining (TSX: OIII)
CEO Jose Vizquerra has recently purchased C$349,147 worth of shares in an on market transaction.
Two recent analyst reports give higher target prices for the stock
03 Mining CEO Jose Vizquerra buys shares in the market
03 Mining (TSX: OIII) CEO Jose Vizquerra has recently purchased C$349,147 worth of shares in an on market transaction. This is normally seen as a positive sign by the market..
The Globe and Mail reports in its Saturday, Sept. 26, edition that on Sept. 8, O3 Mining ($2.84 (Canadian)) released results of a preliminary economic assessment for its Marban project in Val d’Or, Que.
The Globe’s guest columnist Ted Dixon writes in the Who Is Buying and Selling column that based on a long-term gold price of $1,450 (U.S.) per ounce and other assumptions, Marban is estimated to generate an after-tax net present value of $423-million (Canadian) at a 5-per-cent discount rate.
As the stock rallied on the news, chief executive officer Jose Vizquerra bought shares. Since the news, he has spent $349,147 (Canadian) buying shares in the public market. Generally, it is a positive sign when insiders buy into price strength.
The Globe reported on Aug. 28, 2019, that Canaccord Genuity analyst Tom Gallo began coverage on O3 Mining with a “speculative buy” call and $4.50 (Canadian) share target. The shares could then be had for $2.66 (Canadian).
The Globe reported on June 27, 2020, that CIBC World Markets analyst Bryce Adams began coverage on O3 Mining with an “outperformer” rating and $5 (Canadian) share target. The shares could then be had for $2.44 (Canadian).
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