Insider Selling: Omai Gold Mines (CVE:OMG) Director Sells C$662,048.00 in Stock

Omai Gold Mines Corp. (CVE:OMG) Director Elaine Ellingham sold 243,400 shares of the stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of C$2.72, for a total value of C$662,048.00. Following the sale, the director owned 6,972,924 shares of the company’s stock, valued at C$18,966,353.28. This trade represents a 3.37% decrease in their position.

Elaine Ellingham also recently made the following trade(s):

• On Thursday, September 3rd, Elaine Ellingham sold 6,600 shares of Omai Gold Mines stock. The stock was sold at an average price of C$2.71, for a total value of C$17,886.00.

Omai Gold Mines Trading Down 3.3%

Shares of CVE OMG traded down C$0.09 during mid-day trading on Friday, reaching C$2.65. The company had a trading volume of 1,190,844 shares, compared to its average volume of 1,456,437. The stock has a market cap of C$1.79 billion, a PE ratio of -88.33 and a beta of 3.83. The company has a 50-day moving average price of C$2.61 and a two-hundred day moving average price of C$2.32. Omai Gold Mines Corp. has a 1-year low of C$0.93 and a 1-year high of C$3.16.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on OMG shares. Stifel Nicolaus lifted their price target on Omai Gold Mines from C$3.50 to C$4.25 in a research note on Thursday, August 20th. Canadian Imperial Bank of Commerce set a C$4.50 target price on shares of Omai Gold Mines and gave the stock an “outperformer” rating in a report on Monday, June 29th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of C$3.92.

Omai Gold Mines Corp. is a materials company in the Gold industry.