Orla Mining (OLA – Research Report), the Basic Materials sector company, was revisited by a Wall Street analyst yesterday. Analyst Andrew Mikitchook from BMO Capital maintained a Buy rating on the stock and has a C$18.00 price target.
Andrew Mikitchook has given his Buy rating due to a combination of factors including Orla Mining’s strong production performance and strategic acquisitions. The company’s Camino Rojo mine has consistently exceeded production expectations, contributing significantly to Orla’s overall output. This consistent performance, coupled with the recent acquisition of the Musselwhite mine, positions Orla for continued growth and operational success.
Additionally, Orla’s strong cash position of $184.2 million at the end of the quarter provides a solid financial foundation for future endeavors. The company is also advancing the South Railroad project in Nevada, which is expected to further enhance its production capabilities. These strategic moves and financial stability underpin Mikitchook’s confidence in Orla Mining’s potential, justifying the Buy rating.
According to TipRanks, Mikitchook is a 5-star analyst with an average return of 18.6% and a 57.14% success rate. Mikitchook covers the Basic Materials sector, focusing on stocks such as G Mining Ventures, Ivanhoe Mines, and New Found Gold.
In another report released on April 4, RBC Capital also maintained a Buy rating on the stock with a C$15.00 price target.