Orla Mining (TSE:OLA) Hits New 1-Year High Following Analyst Upgrade

Shares of Orla Mining Ltd. (TSE:OLA) reached a new 52-week high during trading on Monday after Natl Bk Canada upgraded the stock to a strong-buy rating. The stock traded as high as C$20.68 and last traded at C$20.41, with a volume of 111146 shares changing hands. The stock had previously closed at C$19.79.

A number of other research analysts have also issued reports on the stock. CIBC upped their price target on shares of Orla Mining from C$25.00 to C$27.00 in a research note on Monday, October 20th. Royal Bank Of Canada boosted their price objective on shares of Orla Mining from C$26.00 to C$32.00 in a report on Wednesday, December 10th. Finally, National Bankshares set a C$27.00 target price on Orla Mining and gave the stock an “outperform” rating in a research note on Tuesday. Two investment analysts have 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 data from MarketBeat.com, Orla Mining has an average rating of “Buy” and an average target price of C$19.09.

Insider Activity

In other news, insider Paul Mann sold 15,864 shares of the company’s 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 transaction of C$291,897.60. Following the completion of the transaction, the insider directly owned 205,647 shares of the company’s stock, valued at C$3,783,904.80. This represents a 7.16% decrease in their position. Also, insider Paul Schmidt sold 2,552 shares of the stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of C$17.44, for a total value of C$44,506.88. Following the transaction, the insider owned 8,082 shares in the company, valued at C$140,950.08. This trade represents a 24.00% decrease in their position. Insiders sold 77,828 shares of company stock worth $1,376,992 over the last three months. 51.68% of the stock is currently owned by corporate insiders.

Orla Mining Stock Performance

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’s fifty day simple moving average is C$18.15 and its 200 day simple moving average is C$16.08. The company has a market cap of C$6.94 billion, a price-to-earnings ratio of 127.63 and a beta of 0.29.

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