Analyst Andrew Mikitchook of BMO Capital maintained a Buy rating on Orla Mining, retaining the price target of C$30.00.
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Andrew Mikitchook has given his Buy rating due to a combination of factors tied to Orla Mining’s recent performance and future growth outlook. The company outpaced FY25 expectations with stronger-than-forecast EPS, production above guidance, and costs that stayed within forecasted ranges, underpinned by operational gains at Musselwhite that more than offset the prior pit wall issue at Camino Rojo.
He also points to meaningful organic growth, with new permits at Camino Rojo extending open-pit mining, enabling underground ramp development, and supporting a sizeable sulphide project with long-life production potential. In parallel, the South Railroad project is progressing toward a 2026 construction decision and 2028 start-up, planned to be funded largely from internal cash flow, giving Orla visibility to sustain and grow production above 300,000 oz per year while maintaining balance sheet discipline.
According to TipRanks, Mikitchook is a 5-star analyst with an average return of 29.5% and a 60.42% success rate. Mikitchook covers the Basic Materials sector, focusing on stocks such as K92 Mining, Orla Mining, and Wesdome Gold Mines.
In another report released on March 21, TipRanks – Google also reiterated a Buy rating on the stock with a C$21.50 price target.