Australia's Ora Banda Mining rises as UBS initiates coverage with 'buy' rating

Ora Banda Mining

17/03/2026 04:50

** Shares of Ora Banda Mining OBM.AX rise as much as 10.6% to A$1.52, their highest level since January 29

** Stock among top gainers on benchmark .AXJO which is up 0.4%

** UBS initiates coverage of OBM with a 'Buy' rating and price target of A$1.60

** UBS models 248koz of production in FY30 for OBM, ahead of consensus (198koz), as the brokerage thinks OBM has the infrastructure and resources in place to achieve its current 150kozpa target

** "Project scale above consensus, as well as potential for capital returns, are key drivers of our positive

call on the stock " - UBS

** Stock down 1.6% this year, including the day's move

(Reporting by Sherin Sunny in Bengaluru)

((Sherin.Sunny@thomsonreuters.com))