CIBC Boosts Orla Mining (TSE:OLA) Price Target to C$18.50

Orla Mining (TSE:OLA) had its price objective upped by investment analysts at CIBC from C$16.25 to C$18.50 in a report released on Thursday,BayStreet.CA reports. CIBC’s price target points to a potential upside of 18.82% from the stock’s previous close.

Several other brokerages have also recently weighed in on OLA. Desjardins raised their target price on shares of Orla Mining from C$12.00 to C$13.00 and gave the company a “buy” rating in a report on Wednesday, March 19th. Royal Bank of Canada increased their target price on Orla Mining from C$13.00 to C$15.00 in a research note on Friday, April 4th. Scotiabank increased their price target on Orla Mining from C$7.75 to C$8.75 in a research note on Wednesday, January 15th. TD Securities raised shares of Orla Mining to a “hold” rating in a research note on Tuesday, February 4th. Finally, Stifel Nicolaus set a C$15.50 price target on Orla Mining and gave the stock a “buy” rating in a research note on Wednesday, March 19th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of C$12.84.

Orla Mining Price Performance

OLA stock traded down C$0.22 during trading on Thursday, reaching C$15.57. The company’s stock had a trading volume of 266,838 shares, compared to its average volume of 638,428. The company has a market capitalization of C$3.53 billion, a P/E ratio of 332.80 and a beta of 1.57. The company’s fifty day moving average is C$11.85 and its 200-day moving average is C$8.90. Orla Mining has a 1 year low of C$4.60 and a 1 year high of C$16.30. The company has a quick ratio of 1.22, a current ratio of 4.54 and a debt-to-equity ratio of 12.68.

Insider Buying and Selling

In other news, Director Charles A. Jeannes sold 15,023 shares of the business’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. Also, Director Jean Robitaille sold 200,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of C$13.25, for a total transaction of C$2,650,000.00. Insiders sold 385,399 shares of company stock valued at $5,067,805 over the last 90 days. Corporate insiders own 51.68% of the company’s stock.

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.