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

Shares of Orla Mining Ltd. (TSE:OLA) hit a new 52-week high on Thursday after Scotiabank raised their price target on the stock from C$5.25 to C$6.00. The stock traded as high as C$6.18 and last traded at C$6.17, with a volume of 903080 shares trading hands. The stock had previously closed at C$5.65.

Separately, CIBC raised their price target on Orla Mining from C$7.25 to C$7.50 in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Orla Mining presently has an average rating of “Moderate Buy” and an average target price of C$6.34.

Insider Activity at Orla Mining

In other news, Director Elizabeth Dianne Mcgregor sold 20,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of C$5.40, for a total transaction of C$107,960.00. In other Orla Mining news, Senior Officer Andrew James Bradbury sold 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of C$5.90, for a total transaction of C$73,750.00. Also, Director Elizabeth Dianne Mcgregor sold 20,000 shares of Orla Mining stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of C$5.40, for a total value of C$107,960.00. In the last ninety days, insiders have sold 101,000 shares of company stock worth $577,457. 34.48% of the stock is currently owned by company insiders.

Orla Mining Trading Up 9.4 %

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 cap of C$1.98 billion, a price-to-earnings ratio of -123.60 and a beta of 1.59. The firm has a 50-day moving average price of C$5.49 and a 200 day moving average price of C$5.43.

Orla Mining (TSE:OLA) last posted its quarterly earnings results on Monday, August 12th. The company reported C$0.09 earnings per share (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 during the quarter. As a group, sell-side analysts forecast that Orla Mining Ltd. will post 0.2979744 EPS for the current 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.