Orla Mining (TSE:OLA) Sets New 12-Month High - Time to Buy?

Key Points

• Orla Mining Ltd. shares hit a new 52-week high of C$18.17 during mid-day trading, significantly up from the previous closing price of C$15.42.
• Analysts are optimistic, with CIBC raising their price target for Orla Mining to C$25.00, while the average rating for the stock remains a "Buy" with a consensus target price of C$15.68.
• The company has a robust financial position with a current ratio of 4.54 and a low debt-to-equity ratio of 12.68, indicating solid liquidity and minimal debt leverage.

Orla Mining Ltd. (TSE:OLA - Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$18.17 and last traded at C$18.15, with a volume of 1241760 shares trading hands. The stock had previously closed at C$15.42.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on OLA shares. CIBC boosted their price target on shares of Orla Mining from C$22.00 to C$25.00 in a research report on Friday. Stifel Nicolaus reduced their price target on Orla Mining from C$19.00 to C$18.50 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of C$15.68.

Orla Mining Stock Up 22.0%

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 company's 50 day simple moving average is C$14.92 and its 200-day simple moving average is C$14.58. The firm has a market cap of C$6.13 billion, a P/E ratio of 268.71 and a beta of 0.02.

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.

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