Up 53%: Why this surging ASX All Ords gold stock just earned a major broker upgrade

S&P/ASX All Ordinaries Index (ASX: XAO) gold stock Titan Minerals Ltd (ASX: TTM) is marching higher today.

Shares in the South American-focused gold and copper miner closed trading yesterday for 66.5 cents. In morning trade on Friday, shares are changing hands for 67.5 cents each, up 1.5%.

This sees the Titan Minerals share price up 53.4% since this time last year.

For some context, the All Ordinaries Index is up 0.2% at this same time and also up 0.2% over 12 months.

And according to the analysts at Euroz Hartleys, Titan Minerals is well-placed to keep smashing the benchmark returns in the year ahead.

ASX All Ords gold stock tipped for 200% gains

On 20 August, Titan Minerals released an update on its 100% held Dynasty Gold Project, located in Ecuador.

The ASX All Ords gold stock has been completing a 10,000-metre resource definition drilling program at the Cerro Verde prospect, within Dynasty, aiming for a Mineral Resource update in early 2027.

Last week, Titan Minerals reported that its latest drilling had struck an “extensive new zone” of gold and silver mineralisation at Cerro Verde.

Among the top drill results, the miner reported an intercept of 33.5 metres at 6.6 grams of gold per tonne and 55.5 grams of silver per tonne (6.6 g/t Au, 55.5 g/t Ag).

“Our technical team are highly encouraged by these latest results, which have provided a breakthrough in our understanding of the major mineralisation pathways and controls at Dynasty,” Titan CEO Melanie Leighton said.

Euroz Hartleys was also impressed. The broker noted:

Importantly, the ~250gm AuEq intersection lies outside the current resource, suggesting potential for a meaningful addition to the existing resource base, which currently stands at 3.9Moz gold and 26Moz silver.

The discovery is particularly significant because it reveals a previously unrecognised northwest-trending structural corridor that may have been overlooked by earlier drilling, noting previous holes in this area were largely drilled parallel to these structures, hence mineralisation may have been missed.

Summarising their bullish outlook on the ASX All Ords gold stock, the analysts at Euroz Hartleys concluded:

TTM has identified multiple high-priority targets along this structural corridor and plans to commence follow-up drilling shortly to test extensions and repeat zones of mineralisation.

If further drilling confirms continuity of the shear-hosted system, the discovery could materially expand the Dynasty resource and strengthen the project’s long-term growth potential.

Euroz Hartleys maintained its speculative buy recommendation on Titan Minerals but lifted its price target to $2.02 a share (from $1.93).

This implies a potential upside of more than 199% from current levels.

The post Up 53%: Why this surging ASX All Ords gold stock just earned a major broker upgrade appeared first on The Motley Fool Australia.

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Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.