Desjardins Forecasts Strong Price Appreciation for Orla Mining (TSE:OLA) Stock

Orla Mining (TSE:OLA) had its price target increased by equities research analysts at Desjardins from C$28.00 to C$29.00 in a report released on Friday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Desjardins’ price objective indicates a potential upside of 15.95% from the stock’s previous close.

A number of other analysts have also recently issued reports on OLA. National Bankshares upped their target price on Orla Mining from C$27.00 to C$29.00 and gave the company an “outperform” rating in a research report on Thursday. CIBC raised their target price on shares of Orla Mining from C$25.00 to C$27.00 in a research report on Monday, October 20th. Natl Bk Canada upgraded shares of Orla Mining to a “strong-buy” rating in a research note on Monday, January 12th. Royal Bank Of Canada increased their target price on shares of Orla Mining from C$26.00 to C$32.00 in a research note on Wednesday, December 10th. Finally, TD Securities lowered their target price on Orla Mining from C$28.00 to C$25.00 in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$23.38.

Orla Mining Stock Up 4.1%

Shares of TSE OLA traded up C$0.99 during midday trading on Friday, hitting C$25.01. 789,838 shares of the company’s stock were exchanged, compared to its average volume of 854,489. The firm’s fifty day simple moving average is C$19.11 and its 200-day simple moving average is C$16.44. The company has a market cap of C$8.50 billion, a PE ratio of 156.31 and a beta of 0.29. Orla Mining has a twelve month low of C$8.34 and a twelve month high of C$25.12. 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 (TSE:OLA) last announced its quarterly earnings results on Tuesday, November 11th. The company reported C$0.22 earnings per share (EPS) for the quarter. The firm 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%. Research analysts predict that Orla Mining will post 0.3352878 EPS for the current fiscal year.

Insider Activity at Orla Mining

In related news, insider John Andrew Cormier sold 30,000 shares of the company’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of C$17.61, for a total transaction of C$528,300.00. Also, insider Paul Mann sold 15,864 shares of the firm’s stock in a transaction on Tuesday, December 16th. The shares were 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 directly 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 position. Insiders have sold a total of 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.

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.