Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Cantor lifts target on Orosur Mining

Broker Cantor has lifted its price target on South America-focused gold miner Orosur Mining Inc, due in part to rising precious metal prices.
Pictured is a gold pour....
The miner, which operates Uruguay's only producing gold mine, succeeded in getting all-in sustaining costs (AISC) of production below US$1,000 an ounce in the recent quarter

Broker Cantor has lifted its price target on South America-focused gold miner Orosur Mining Inc (LON:OMI, TSE:OMI), due in part to rising precious metal prices.

The positive impact of cost cutting and a focus on operating profitability was plain to see in recent third quarter results, added analyst Asa Bridle.

"The company’s efforts are also being helped by rising precious metal prices, and we revise our FY17 earnings forecast upwards on the back of higher gold and silver price expectations," he said.

The broker's target goes to 26p from 22p and it repeats a 'buy'.

The miner, which operates  Uruguay's only producing gold mine, succeeded in getting all-in sustaining costs (AISC) of production below US$1,000 an ounce in the quarter, and the plan is to keep it below that for the remainder of the financial year, which runs to end May.

It also bounced back into the black with a profit before tax of US$3.1mln in the three months to February 29, having made a loss of US$1.9mln in the corresponding period the year before.

Orosur shares are now at 10.875p.

Giles_55af4ddca6481.jpg
Why Invest In Orosur Mining Inc? Read More Here

Register here to be notified of future OMI Company articles
View full OMI profile

Orosur Mining Inc Timeline

Related Articles

drillrignewangle_58d3d28d41cb2.jpg
March 23 2017
There is no doubt we will have a resource upgrade, probably later in the year - chief executive Glen Parsons
argent-minerals-MD-david-busch-presenting-in-Sydney-Feb-2017.jpg
February 24 2017
David Busch discussed exploration plans from three highly-prospective projects.
Lithium-battery.jpg
January 23 2017
Barisan Gold is well into the process of transforming itself into a lithium company

© Proactive Investors 2017

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use