Analysts Bullish After Orla Mining (ORLA) Gold Project Feasibility Study

Orla Mining Ltd. (NYSE:ORLA) is one of the best high-upside materials stocks to buy. On January 15, Orla Mining Ltd. (NYSE:ORLA) announced that it approved the start of construction-related spending for its South Railroad gold project in Nevada after completing a feasibility study. South Railroad is expected to become Orla’s third operating mine, lifting total company production to nearly 500,000 ounces annually.  The study confirmed that, with an initial estimated capital cost of $395 million, the site can achieve annual gold production of 130,000 ounces over the first five years of operations. Full construction is targeted to begin in mid-2026, pending final permits.

Analysts Bullish After Orla Mining (ORLA) Gold Project Feasibility Stufy

Image by Csaba Nagy from Pixabay

Following the announcement, three analyst firms issued updated opinions on Orla Mining Ltd. (NYSE:ORLA). On February 3, RBC Capital analyst Josh Wolfson maintained a Buy rating on the company and set a price target of C$32. On January 27, Scotiabank maintained an Outperform rating on the stock, while raising the price target to C$26.50 from C$21. On January 16, Stifel Nicolaus analyst Ingrid Rico maintained a Buy rating on the stock and set a price target of C$28.00.

Orla Mining Ltd. (NYSE:ORLA) is a capital pool company that engages in the business of acquisition, exploration, development, and operation of mineral properties containing gold, silver, zinc, lead, and copper deposits.

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Disclosure: None. This article is originally published at Insider Monkey.