Orla Mining (TSE:OLA) Hits New 12-Month High After Analyst Upgrade

Orla Mining Ltd. (TSE:OLA) shares reached a new 52-week high during trading on Monday after Natl Bk Canada upgraded the stock to a strong-buy rating. The stock traded as high as C$20.68 and last traded at C$20.41, with a volume of 111146 shares trading hands. The stock had previously closed at C$19.79.

OLA has been the subject of several other research reports. CIBC raised their target price on Orla Mining from C$25.00 to C$27.00 in a research note on Monday, October 20th. Royal Bank Of Canada lifted their price target on Orla Mining from C$26.00 to C$32.00 in a research report on Wednesday, December 10th. Finally, National Bankshares set a C$27.00 price objective on shares of Orla Mining and gave the stock an “outperform” rating in a report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of C$19.09.

Insider Activity

In other news, insider Paul Mann sold 15,864 shares of the business’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of C$18.40, for a total value of C$291,897.60. Following the sale, the insider directly owned 205,647 shares in the company, valued at C$3,783,904.80. The trade was a 7.16% decrease in their ownership of the stock. Also, insider John Andrew Cormier sold 30,000 shares of the stock in a transaction on Monday, November 24th. The stock was sold at an average price of C$17.61, for a total transaction of C$528,300.00. Insiders have sold 77,828 shares of company stock worth $1,376,992 in the last 90 days. Corporate insiders own 51.68% of the company’s stock.

Orla Mining Stock Down 2.1%

The company has a debt-to-equity ratio of 12.68, a quick ratio of 1.22 and a current ratio of 4.54. The stock has a market cap of C$6.97 billion, a P/E ratio of 128.13 and a beta of 0.29. The stock’s fifty day simple moving average is C$18.15 and its 200-day simple moving average is C$16.08.

Orla Mining (TSE:OLA) last announced its quarterly earnings data on Tuesday, November 11th. The company reported C$0.22 earnings per share for the quarter. Orla Mining had a return on equity of 2.24% and a net margin of 3.15%.The firm had revenue of C$382.88 million during the quarter. As a group, research analysts forecast that Orla Mining Ltd. will post 0.3352878 earnings per share for the current fiscal year.

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.