Orla Mining price target raised to C$16 from C$15.50 at Scotiabank

Scotiabank analyst Ovais Habib raised the firm’s price target on Orla Mining (ORLA) to C$16 from C$15.50 and keeps an Outperform rating on the shares. Scotia noted that Orla reported its first sulphide underground resource estimate for the Camino Rojo asset, with measured and indicated resources estimated at 50.1 Mt of ore at 2.45 g/t Au, 10.6 g/t Ag, and 0.35% Zn for a total of 4.2 Moz AuEq, which the firm sees as a “positive” for Orla shares.

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