Orla Mining (TSE:OLA) Sets New 1-Year High – Here’s What Happened

Shares of Orla Mining Ltd. (TSE:OLA) reached a new 52-week high during trading on Wednesday . The company traded as high as C$15.72 and last traded at C$15.65, with a volume of 849435 shares traded. The stock had previously closed at C$15.31.

Wall Street Analyst Weigh In

OLA has been the topic of a number of research reports. Royal Bank of Canada raised their price target on shares of Orla Mining from C$13.00 to C$15.00 in a research note on Friday, April 4th. TD Securities raised Orla Mining to a “hold” rating in a research note on Tuesday, February 4th. Desjardins boosted their price target on Orla Mining from C$12.00 to C$13.00 and gave the stock a “buy” rating in a research report on Wednesday, March 19th. BMO Capital Markets raised their price objective on Orla Mining from C$12.50 to C$14.50 in a report on Thursday, March 20th. Finally, Cormark lifted their target price on shares of Orla Mining from C$10.00 to C$12.00 in a research note on Thursday, March 20th. 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of C$12.56.

Orla Mining Stock Performance

The stock has a 50-day moving average of C$11.74 and a 200 day moving average of C$8.85. The stock has a market cap of C$3.55 billion, a PE ratio of 334.51 and a beta of 1.57. The company has a quick ratio of 1.22, a current ratio of 4.54 and a debt-to-equity ratio of 12.68.

Insider Transactions at Orla Mining

In other news, Director Charles A. Jeannes sold 15,023 shares of the company’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of C$12.86, for a total value of C$193,257.37. Also, Director Jean Robitaille sold 200,000 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of C$13.25, for a total value of C$2,650,000.00. Insiders have sold a total of 385,399 shares of company stock worth $5,067,805 in the last quarter. Company 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.