CIBC Forecasts Strong Price Appreciation for Orla Mining (TSE:OLA) Stock

Orla Mining (TSE:OLA) had its price target raised by equities researchers at CIBC from C$16.25 to C$18.50 in a research note issued on Thursday,BayStreet.CA reports. CIBC’s price objective would indicate a potential upside of 18.51% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. TD Securities raised Orla Mining to a “hold” rating in a research note on Tuesday, February 4th. Royal Bank of Canada raised their target price on Orla Mining from C$13.00 to C$15.00 in a research note on Friday, April 4th. Desjardins boosted their price target on shares of Orla Mining from C$12.00 to C$13.00 and gave the stock a “buy” rating in a research report on Wednesday, March 19th. Stifel Canada upgraded Orla Mining to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, Scotiabank upped their price target on shares of Orla Mining from C$7.75 to C$8.75 in a research report on Wednesday, January 15th. One investment 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’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of C$12.84.

Orla Mining Stock Down 1.1 %

Orla Mining stock opened at C$15.61 on Thursday. The firm has a market capitalization of C$3.54 billion, a P/E ratio of 333.65 and a beta of 1.57. The company has a 50-day simple moving average of C$12.08 and a 200-day simple moving average of C$9.02. Orla Mining has a one year low of C$4.60 and a one year high of C$16.30. The company has a debt-to-equity ratio of 12.68, a quick ratio of 1.22 and a current ratio of 4.54.

Insider Transactions at Orla Mining

In other news, Director Charles A. Jeannes sold 15,023 shares of Orla Mining stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of C$12.86, for a total transaction of C$193,257.37. Also, Senior Officer Etienne Morin sold 77,470 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of C$13.00, for a total value of C$1,007,110.00. Over the last quarter, insiders have sold 385,399 shares of company stock worth $5,067,805. Insiders own 51.68% of the company’s stock.

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.