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
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2020-09-28
03 Mining CEO Jose Vizquerra buys shares in the market
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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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