Orla Mining (TSE:OLA) Reaches New 12-Month High – What’s Next?

Shares of Orla Mining Ltd. (TSE:OLA) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$13.77 and last traded at C$13.65, with a volume of 72733 shares trading hands. The stock had previously closed at C$13.44.

Wall Street Analyst Weigh In

Several equities analysts recently commented on OLA shares. Stifel Canada raised Orla Mining to a “strong-buy” rating in a research report on Wednesday, March 19th. Cormark boosted their target price on shares of Orla Mining from C$10.00 to C$12.00 in a research report on Thursday, March 20th. TD Securities upgraded shares of Orla Mining to a “hold” rating in a research note on Tuesday, February 4th. Scotiabank lifted their price target on shares of Orla Mining from C$7.75 to C$8.75 in a research note on Wednesday, January 15th. Finally, Stifel Nicolaus set a C$15.50 target price on Orla Mining and gave the company a “buy” rating in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Orla Mining currently has an average rating of “Buy” and an average target price of C$11.86.

Orla Mining Stock Up 0.7 %

The firm has a market cap of C$3.07 billion, a P/E ratio of 289.19 and a beta of 1.57. The firm’s 50-day moving average price is C$10.61 and its 200 day moving average price is C$8.17. The company has a debt-to-equity ratio of 12.68, a current ratio of 4.54 and a quick ratio of 1.22.

Insiders Place Their Bets

In other news, Director Jean Robitaille sold 200,000 shares of Orla Mining stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of C$13.25, for a total value of C$2,650,000.00. Also, Senior Officer Paul Schmidt sold 50,000 shares of the business’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of C$13.19, for a total transaction of C$659,660.00. Insiders have sold a total of 385,399 shares of company stock valued at $5,067,805 in the last quarter. 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.