Orla Mining (TSE:OLA) Reaches New 1-Year High – Here’s Why

Orla Mining Ltd. (TSE:OLA)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$8.97 and last traded at C$8.97, with a volume of 623504 shares trading hands. The stock had previously closed at C$8.69.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Desjardins upgraded shares of Orla Mining to a “moderate buy” rating in a research report on Thursday, October 31st. Scotiabank raised their price target on shares of Orla Mining from C$7.75 to C$8.75 in a research note on Wednesday, January 15th. Stifel Nicolaus increased their target price on Orla Mining from C$8.00 to C$9.75 in a report on Monday, December 2nd. Finally, CIBC lifted their price target on Orla Mining from C$8.50 to C$9.25 in a research note on Tuesday, December 17th.

Orla Mining Stock Performance

The stock has a 50 day simple moving average of C$7.91 and a two-hundred day simple moving average of C$6.52. The company has a market cap of C$2.85 billion, a PE ratio of -178.40 and a beta of 1.57. The company has a debt-to-equity ratio of 17.76, a current ratio of 5.89 and a quick ratio of 1.22.

Orla Mining (TSE:OLA) last released its quarterly earnings results on Tuesday, November 12th. The company reported C$0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.13 by C($0.05). Orla Mining had a negative return on equity of 2.50% and a negative net margin of 4.12%. During the same period in the previous year, the business posted $0.03 EPS. Equities analysts predict that Orla Mining Ltd. will post 0.3352878 EPS for the current year.

Orla Mining Company Profile

Orla Mining Ltd is a mineral exploration company. It is engaged in the acquisition and exploration of mineral properties. The company holds two gold projects; the Camino Rojo gold and silver project in Zacatecas State, Mexico, and the Cerro Quema gold project in Panama. It conducts business activities in the geographic areas of Mexico, Panama, the United States, and Canada.