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

Orla Mining logo with Basic Materials background

Shares of Orla Mining Ltd. (TSE:OLA - Get Free Report) hit a new 52-week high during trading on Thursday after Royal Bank of Canada raised their price target on the stock from C$15.00 to C$18.00. The stock traded as high as C$16.88 and last traded at C$16.83, with a volume of 394498 shares trading hands. The stock had previously closed at C$15.73.

A number of other equities analysts also recently issued reports on OLA. Cormark raised their price objective on shares of Orla Mining from C$10.00 to C$12.00 in a report on Thursday, March 20th. BMO Capital Markets raised their price objective on shares of Orla Mining from C$12.50 to C$14.50 in a report on Thursday, March 20th. Stifel Canada raised shares of Orla Mining to a "strong-buy" rating in a report on Wednesday, March 19th. Desjardins raised their price objective on shares of Orla Mining from C$12.00 to C$13.00 and gave the stock a "buy" rating in a report on Wednesday, March 19th. Finally, TD Securities raised shares of Orla Mining to a "hold" rating in a report on Tuesday, February 4th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of C$14.82.

View Our Latest Report on OLA

Insider Activity

In other news, Director Jean Robitaille sold 200,000 shares of Orla Mining stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of C$13.25, for a total transaction of C$2,650,000.00. Also, Director Charles A. Jeannes sold 15,023 shares of Orla Mining stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of C$12.86, for a total transaction of C$193,257.37. Insiders have sold a total of 385,399 shares of company stock worth $5,067,805 over the last quarter. Insiders own 51.68% of the company's stock.

Orla Mining Price Performance

The firm's 50-day moving average is C$14.25 and its two-hundred day moving average is C$10.94. The company has a market cap of C$3.83 billion, a P/E ratio of 361.44 and a beta of 1.57. The company has a debt-to-equity ratio of 12.68, a current ratio of 4.54 and a quick ratio of 1.22.

Orla Mining Company Profile

(Get Free Report)

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.

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