Orla Mining (TSE:OLA) Hits New 1-Year High Following Analyst Upgrade

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

Several other research analysts have also recently commented on OLA. Scotiabank increased their target price on shares of Orla Mining from C$5.25 to C$6.00 in a report on Thursday, October 10th. CIBC increased their target price on shares of Orla Mining from C$7.25 to C$7.50 in a report on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$6.56.

Insiders Place Their Bets

In other Orla Mining news, Director Jean Robitaille sold 46,600 shares of the company’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of C$5.74, for a total transaction of C$267,549.24. In related news, Director Elizabeth Dianne Mcgregor sold 20,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of C$5.40, for a total transaction of C$107,960.00. Also, Director Jean Robitaille sold 46,600 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of C$5.74, for a total transaction of C$267,549.24. Over the last three months, insiders have sold 101,000 shares of company stock valued at $577,457. 51.68% of the stock is currently owned by corporate insiders.

Orla Mining Trading Up 2.9 %

The business’s 50 day moving average price is C$5.78 and its two-hundred day moving average price is C$5.52. The company has a current ratio of 5.89, a quick ratio of 1.22 and a debt-to-equity ratio of 17.76. The company has a market capitalization of C$2.27 billion, a price-to-earnings ratio of -141.80 and a beta of 1.57.

Orla Mining (TSE:OLA) last posted its earnings results on Monday, August 12th. The company reported C$0.09 EPS for the quarter, missing the consensus estimate 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. On average, equities analysts predict that Orla Mining Ltd. will post 0.3352878 earnings per share for the current fiscal year.

Orla Mining Company Profile

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.