Orla Mining (TSE:OLA) Hits New 12-Month High Following Analyst Upgrade

Orla Mining Ltd. (TSE:OLA) hit a new 52-week high during mid-day trading on Thursday after Royal Bank of Canada raised their price target on the stock from C$15.00 to C$18.00. The stock traded as high as C$16.88 and last traded at C$16.83, with a volume of 394498 shares trading hands. The stock had previously closed at C$15.73.

Several other analysts have also recently issued reports on the company. CIBC upped their price objective on Orla Mining from C$16.25 to C$18.50 in a research note on Thursday, April 17th. Desjardins upped their price objective on Orla Mining from C$12.00 to C$13.00 and gave the company a “buy” rating in a research note on Wednesday, March 19th. Stifel Nicolaus increased their price target on Orla Mining from C$15.50 to C$19.00 in a research report on Monday, April 21st. Stifel Canada upgraded Orla Mining to a “strong-buy” rating in a research report on Wednesday, March 19th. Finally, BMO Capital Markets increased their price target on Orla Mining from C$12.50 to C$14.50 in a research report on Thursday, March 20th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of C$14.82.

Insider Transactions at Orla Mining

In related news, Director Jean Robitaille sold 200,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of C$13.25, for a total value of C$2,650,000.00. Also, Director Charles A. Jeannes sold 15,023 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of C$12.86, for a total value of C$193,257.37. In the last ninety days, insiders have sold 385,399 shares of company stock worth $5,067,805. 51.68% of the stock is currently owned by company insiders.

Orla Mining Trading Down 10.2%

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 capitalization of C$3.44 billion, a price-to-earnings ratio of 324.46 and a beta of 1.57. The firm has a 50-day moving average of C$14.29 and a 200 day moving average of C$11.00.

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.