Ora Banda Mining ( (AU:OBM) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Ora Banda Mining’s stock has experienced a downturn due to a revised production guidance for its Davyhurst Project. The company now expects to produce around 95,000 ounces of gold for FY25, which, while a 35% increase from FY24, falls short of earlier projections by 5%. This adjustment is primarily due to production downtime linked to processing plant upgrades, though the plant is now fully operational. Additionally, the all-in sustaining cost is anticipated to be slightly higher at $2,600 per ounce. Despite these challenges, the analyst rating remains a Hold with a price target of A$1.03, as the market digests these updates and the company’s operational recovery.
More about Ora Banda Mining
YTD Price Performance: 94.62%
Average Trading Volume: 10,631,048
Technical Sentiment Signal: Buy
Current Market Cap: A$2.37B
For further insights into OBM stock on TipRanks’ Stock Analysis page.
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