Up 300% since August, why this surging ASX gold stock could keep racing higher

ASX gold stock Titan Minerals Ltd (ASX: TTM) has been on a tear since plumbing one-year lows in August.

How much of a tear?

Well, on 5 August, you could have bought shares at the closing price of 29 cents.

In afternoon trade today, Titan Mineral shares are up 1.8% trading for $1.16 each. That sees the ASX gold stock up a blistering 300% in just over five months.

Or enough to turn an $8,000 investment into $32,000.

Atop from enjoying a surging gold price (gold is currently trading for US$4,824 per ounce), Titan Minerals has also impressed investors with strong results from its ongoing exploratory drilling campaign at its Dynasty Gold Project, located in Ecuador.

And it's with these results in mind that the team at Euroz Hartleys believe Titan Minerals shares can keep leaping higher in 2026.

ASX gold stock expanding its footprint

Titan Minerals shares closed up 15.4% on 14 January after the ASX gold stock reported on "exceptional wide, high-grade results" from infill drilling at the Cerro Verde prospect, situated within Dynasty.

"Our infill drilling has highlighted the quality and remarkable predictability of the Dynasty gold orebody, with latest results set to support resource classification upgrades and a robust MRE update suitable for feasibility studies," Titan Minerals CEO Melanie Leighton said on the day.

Having pored over those results, Euroz Hartleys analyst Mike Milligan said:

Latest resource infill and extensional drilling results from Titan's 100%-owned Dynasty Gold Project continues to support an upgrade in resource classifications and growth ahead of the late Q1CY26 resource update… Recent drilling from the Brecha-Comanche target, Cerro Verde has delivered wide, high-grade vein-hosted mineralisation with significant results.

And Euroz Hartleys expects the ASX gold stock is poised to deliver a significant resource upgrade this year.

Milligan said:

Dynasty has a current resource of 43.5Mt @ 2.2g/t Au & 15.7g/t Ag for 3.1Moz gold and 22Moz silver, of which Cerro Verde contains over 60% or 1.9Moz gold & 12Moz silver, which is clearly set to increase.

We continue to see potential for gold equivalent resource growth towards 4Moz AuEq [gold equivalent], which could be significantly higher if the bulk tonnage porphyry mineralisation extends as anticipated.

Titan Minerals shares could also get further support amid merger and acquisition interest.

Milligan noted:

While key de-risking milestones such as feasibility studies remain ahead, TTM has confirmed a substantial resource base and is attracting strong M&A interest, reinforcing its value proposition.

Connecting the dots, Euroz Hartleys maintained its speculative buy rating on Titan Minerals with an increased price target of $1.70 a share.

That represents a potential upside of 46.6% from current levels.

The post Up 300% since August, why this surging ASX gold stock could keep racing higher appeared first on The Motley Fool Australia.

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.

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