Orla Mining (TSE:OLA) Sets New 52-Week High on Analyst Upgrade

Orla Mining Ltd. (TSE:OLA)’s stock price hit a new 52-week high during trading 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. The stock had previously closed at C$26.33.

A number of other research analysts have also recently weighed in on the stock. Royal Bank Of Canada lifted their target price on shares of Orla Mining from C$26.00 to C$32.00 in a research note on Wednesday, December 10th. National Bank Financial boosted their price objective on Orla Mining from C$27.00 to C$29.00 and gave the stock an “outperform” rating in a research note on Thursday, January 22nd. Desjardins upped their price target 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. BMO Capital Markets upped their price target on shares of Orla Mining from C$22.00 to C$30.00 in a report on Monday, January 26th. Finally, Stifel Nicolaus upped their target price on Orla Mining from C$28.00 to C$35.00 in a report on Tuesday, February 10th. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of C$28.55.

Insider Buying and Selling at Orla Mining

In related news, insider Paul Mann sold 15,864 shares of the 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 owned 205,647 shares of the company’s stock, valued at approximately C$3,783,904.80. This trade represents a 7.16% decrease in their ownership of the stock. 51.68% of the stock is currently owned by company insiders.

Orla Mining Stock Performance

The company has a market cap of C$9.20 billion, a price-to-earnings ratio of 169.13 and a beta of 0.38. The company has a quick ratio of 1.22, a current ratio of 4.54 and a debt-to-equity ratio of 12.68. The stock has a 50 day simple moving average of C$21.49 and a 200 day simple moving average of C$17.82.

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