Orla Mining (TSE:OLA) Sets New 52-Week High - Here's Why

Orla Mining Ltd. (TSE:OLA - Get Free Report)'s share price hit a new 52-week high during trading on Monday . The company traded as high as C$17.00 and last traded at C$16.73, with a volume of 247356 shares changing hands. The stock had previously closed at C$15.75.

Analysts Set New Price Targets

Several equities research analysts have weighed in on OLA shares. CIBC upped their target price on Orla Mining from C$16.25 to C$18.50 in a research note on Thursday, April 17th. Royal Bank Of Canada boosted their target price on Orla Mining from C$15.00 to C$18.00 in a research note on Wednesday, June 4th. Finally, Stifel Nicolaus boosted their target price on shares of Orla Mining from C$15.50 to C$19.00 in a report on Monday, April 21st. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of C$14.82.

Orla Mining Price Performance

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 business's 50 day moving average price is C$14.42 and its 200-day moving average price is C$12.57. The company has a market cap of C$3.78 billion, a PE ratio of 356.52 and a beta of 1.57.

Insider Transactions at Orla Mining

In other news, Director Timothy Quentin Haldane sold 17,962 shares of Orla Mining stock in a transaction dated Monday, June 9th. The stock was sold at an average price of C$15.06, for a total transaction of C$270,527.48. Also, Senior Officer Etienne Morin sold 10,000 shares of the company's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of C$15.51, for a total value of C$155,064.00. Over the last three months, insiders have sold 50,462 shares of company stock worth $781,286. Corporate insiders own 51.68% of the company's stock.

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.

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