Orla Mining (TSE:OLA) Reaches New 1-Year High After Analyst Upgrade

Orla Mining Ltd. (TSE:OLA)’s stock price hit a new 52-week high on Tuesday after Stifel Nicolaus raised their price target on the stock from C$15.50 to C$19.00. The stock traded as high as C$16.53 and last traded at C$15.94, with a volume of 504486 shares trading hands. The stock had previously closed at C$15.61.

OLA has been the topic of several other research reports. Desjardins upped their target price on Orla Mining from C$12.00 to C$13.00 and gave the company a “buy” rating in a report on Wednesday, March 19th. Stifel Canada raised Orla Mining to a “strong-buy” rating in a research note on Wednesday, March 19th. BMO Capital Markets increased their price target on Orla Mining from C$12.50 to C$14.50 in a research note on Thursday, March 20th. Scotiabank raised their target price on shares of Orla Mining from C$7.75 to C$8.75 in a research report on Wednesday, January 15th. Finally, TD Securities raised Orla Mining to a “hold” rating in a research report on Tuesday, February 4th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of C$13.28.

Insiders Place Their Bets

In other news, Senior Officer Paul Schmidt sold 50,000 shares of the stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of C$13.19, for a total value of C$659,660.00. Also, Director Jean Robitaille sold 200,000 shares of the firm’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of C$13.25, for a total value of C$2,650,000.00. Insiders have sold a total of 385,399 shares of company stock valued at $5,067,805 in the last quarter. Insiders own 51.68% of the company’s stock.

Orla Mining Trading Down 3.8 %

The company has a fifty day simple moving average of C$12.31 and a 200-day simple moving average of C$9.21. The company has a current ratio of 4.54, a quick ratio of 1.22 and a debt-to-equity ratio of 12.68. The stock has a market cap of C$3.47 billion, a price-to-earnings ratio of 327.67 and a beta of 1.57.

About Orla Mining

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.