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

Orla Mining Ltd. (TSE:OLA) reached a new 52-week high on Tuesday after ATB Cormark Capital Markets upgraded the stock from a hold rating to a moderate buy rating. ATB Cormark Capital Markets now has a C$35.00 price target on the stock, up from their previous price target of C$25.00. Orla Mining traded as high as C$27.33 and last traded at C$27.07, with a volume of 436835 shares trading hands. The stock had previously closed at C$26.33.

Other equities research analysts also recently issued reports about the company. National Bank Financial increased their price target on Orla Mining from C$27.00 to C$29.00 and gave the stock an “outperform” rating in a report on Thursday, January 22nd. Royal Bank Of Canada boosted their price target on Orla Mining from C$26.00 to C$32.00 in a research report on Wednesday, December 10th. Stifel Nicolaus lifted their price target on Orla Mining from C$28.00 to C$35.00 in a report on Tuesday, February 10th. Desjardins upped their price objective on shares of Orla Mining from C$28.00 to C$29.00 and gave the company a “buy” rating in a report on Friday, January 23rd. Finally, BMO Capital Markets lifted their price target on Orla Mining from C$22.00 to C$30.00 in a report on Monday, January 26th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of C$28.55.

Insider Activity at Orla Mining

In other Orla Mining news, insider Paul Mann sold 15,864 shares of Orla Mining stock in a transaction that occurred on 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 completion of the sale, the insider directly owned 205,647 shares in the company, valued at approximately C$3,783,904.80. The trade was a 7.16% decrease in their ownership of the stock. Corporate insiders own 51.68% of the company’s stock.

Orla Mining Stock Up 2.8%

The stock’s 50-day moving average price is C$21.49 and its two-hundred day moving average price is C$17.82. The company has a current ratio of 4.54, a quick ratio of 1.22 and a debt-to-equity ratio of 12.68. The stock has a market capitalization of C$9.20 billion, a P/E ratio of 169.13 and a beta of 0.38.

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

Orla Mining Company Profile

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.