Orla Mining initiated with bullish view at RBC Capital, here’s why

RBC Capital initiated coverage of Orla Mining with an Outperform rating and C$6 price target. Orla offers investors a platform of low-cost production from its Camino Rojo mine in Mexico, a clear pathway to growth via South Railroad project development in Nevada, and high optionality from Camino Rojo’s large-scale sulphide resource, the analyst tells investors in a research note. The firm says 2024 permitting and development catalysts could drive value across the portfolio and reverse recent share price underperformance.