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

Orla Mining Ltd. (TSE:OLA)’s stock price hit a new 52-week high during mid-day trading on Tuesday after ATB Cormark Capital Markets upgraded the stock from a hold rating to a moderate buy rating. ATB Cormark Capital Markets now has a C$35.00 price target on the stock, up from their previous price target of C$25.00. Orla Mining traded as high as C$27.33 and last traded at C$27.07, with a volume of 436835 shares traded. The stock had previously closed at C$26.33.

OLA has been the subject of a number of other reports. Royal Bank Of Canada boosted their price objective on Orla Mining from C$26.00 to C$32.00 in a research report on Wednesday, December 10th. Scotiabank boosted their price target on shares of Orla Mining from C$21.00 to C$26.50 in a report on Monday, January 26th. National Bank Financial increased their price objective on shares of Orla Mining from C$27.00 to C$29.00 and gave the company an “outperform” rating in a research report on Thursday, January 22nd. BMO Capital Markets raised their price objective on shares of Orla Mining from C$22.00 to C$30.00 in a report on Monday, January 26th. Finally, Stifel Nicolaus boosted their target price on shares of Orla Mining from C$28.00 to C$35.00 in a research note on Tuesday, February 10th. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$28.55.

Insider Activity at Orla Mining

In related news, insider Paul Mann sold 15,864 shares of Orla Mining stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of C$18.40, for a total transaction of C$291,897.60. Following the sale, the insider directly owned 205,647 shares in the company, valued at C$3,783,904.80. This trade represents a 7.16% decrease in their position. 51.68% of the stock is owned by company insiders.

Orla Mining Price Performance

The company has a debt-to-equity ratio of 12.68, a quick ratio of 1.22 and a current ratio of 4.54. The company has a market capitalization of C$9.20 billion, a PE ratio of 169.13 and a beta of 0.38. The company’s 50-day simple moving average is C$21.66 and its 200-day simple moving average is C$17.91.

Orla Mining (TSE:OLA) last announced its earnings results on Tuesday, November 11th. The company reported C$0.22 EPS for the quarter. Orla Mining had a net margin of 3.15% and a return on equity of 2.24%. The business had revenue of C$382.88 million during the quarter. As a group, sell-side analysts anticipate that Orla Mining Ltd. will post 0.3352878 earnings per share 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.