Orla Mining (TSE:OLA) Reaches New 52-Week High Following Analyst Upgrade

Shares of Orla Mining Ltd. (TSE:OLA) hit a new 52-week high during mid-day trading on Monday after Desjardins raised their price target on the stock from C$28.00 to C$29.00. Desjardins currently has a buy rating on the stock. Orla Mining traded as high as C$27.01 and last traded at C$26.86, with a volume of 246010 shares traded. The stock had previously closed at C$25.26.

A number of other research analysts also recently weighed in on OLA. TD Securities lowered their target price on Orla Mining from C$28.00 to C$25.00 in a report on Thursday. National Bankshares increased their price objective on shares of Orla Mining from C$27.00 to C$29.00 and gave the stock an “outperform” rating in a research note on Thursday. CIBC boosted their price objective on shares of Orla Mining from C$25.00 to C$27.00 in a research report on Monday, October 20th. Natl Bk Canada raised Orla Mining to a “strong-buy” rating in a report on Monday, January 12th. Finally, Royal Bank Of Canada lifted their target price on Orla Mining from C$26.00 to C$32.00 in a research report on Wednesday, December 10th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of C$23.38.

Insider Activity

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 transaction, the insider owned 205,647 shares in the company, valued at approximately C$3,783,904.80. The trade was a 7.16% decrease in their position. Also, insider Paul Schmidt sold 2,552 shares of the stock in a transaction dated Monday, November 24th. The stock was sold at an average price of C$17.44, for a total value of C$44,506.88. Following the sale, the insider owned 8,082 shares of the company’s stock, valued at C$140,950.08. This represents a 24.00% decrease in their position. Insiders have sold 77,828 shares of company stock worth $1,376,992 in the last three months. Company insiders own 51.68% of the company’s stock.

Orla Mining Price Performance

The firm has a market cap of C$9.13 billion, a P/E ratio of 167.88 and a beta of 0.29. The firm’s fifty day simple moving average is C$19.28 and its 200 day simple moving average is C$16.54. The company has a debt-to-equity ratio of 12.68, a quick ratio of 1.22 and a current ratio of 4.54.

Orla Mining (TSE:OLA) last posted its earnings results on Tuesday, November 11th. The company reported C$0.22 EPS for the quarter. Orla Mining had a return on equity of 2.24% and a net margin of 3.15%.The company had revenue of C$382.88 million for the quarter. As a group, analysts forecast 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.