Orla Mining (TSE:OLA) Reaches New 1-Year High on Analyst Upgrade

Shares of Orla Mining Ltd. (TSE:OLA) reached a new 52-week high on Tuesday after Stifel Nicolaus raised their price target on the stock from C$6.50 to C$8.00. The company traded as high as C$7.05 and last traded at C$6.99, with a volume of 449829 shares trading hands. The stock had previously closed at C$6.89.

Other research analysts also recently issued research reports about the company. CIBC increased their price target on Orla Mining from C$7.25 to C$7.50 in a research note on Wednesday, July 10th. Scotiabank upped their price objective on shares of Orla Mining from C$5.25 to C$6.00 in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$6.56.

Insiders Place Their Bets

In other Orla Mining news, Senior Officer Andrew James Bradbury sold 12,500 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of C$5.90, for a total transaction of C$73,750.00. In related news, Director Jean Robitaille sold 46,600 shares of Orla Mining stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of C$5.74, for a total value of C$267,549.24. Also, Senior Officer Andrew James Bradbury sold 12,500 shares of Orla Mining stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of C$5.90, for a total value of C$73,750.00. In the last 90 days, insiders sold 101,000 shares of company stock worth $577,457. Corporate insiders own 51.68% of the company’s stock.

Orla Mining Trading Down 2.0 %

The company has a debt-to-equity ratio of 17.76, a current ratio of 5.89 and a quick ratio of 1.22. The business has a 50-day moving average of C$5.81 and a 200-day moving average of C$5.53. The firm has a market cap of C$2.22 billion, a price-to-earnings ratio of -139.00 and a beta of 1.57.

Orla Mining (TSE:OLA) last posted its quarterly earnings results on Monday, August 12th. The company reported C$0.09 EPS for the quarter, missing analysts’ consensus estimates of C$0.10 by C($0.01). Orla Mining had a negative return on equity of 2.50% and a negative net margin of 4.12%. The business had revenue of C$115.71 million for the quarter. Research analysts anticipate that Orla Mining Ltd. will post 0.3352878 EPS for the current year.

About Orla Mining

Orla Mining Ltd. acquires, explores, develops, and exploits mineral properties. The company explores for gold, silver, zinc, lead, and copper deposits. It owns 100% interests in the Camino Rojo project that consists of seven concessions covering an area of 138,636 hectares located in Zacatecas, Mexico; Cerro Quema project totaling an area of 15,000 hectares located in the Azuero Peninsula, Panama; and the South Railroad project consisting of an area of 21,000 hectares located in Elko, Nevada.