Orla Mining (TSE:OLA) Hits New 1-Year High - Here's What Happened

Orla Mining Ltd. (TSE:OLA - Get Free Report)'s share price reached a new 52-week high on Tuesday . The stock traded as high as C$13.77 and last traded at C$13.65, with a volume of 72733 shares traded. The stock had previously closed at C$13.44.

Wall Street Analysts Forecast Growth

OLA has been the subject of several research analyst reports. Scotiabank lifted their price objective on Orla Mining from C$7.75 to C$8.75 in a research note on Wednesday, January 15th. CIBC lifted their price target on Orla Mining from C$13.75 to C$16.25 and gave the company an "outperform" rating in a research report on Wednesday. Desjardins raised their target price on shares of Orla Mining from C$12.00 to C$13.00 and gave the company a "buy" rating in a research note on Wednesday, March 19th. Stifel Nicolaus set a C$15.50 price target on shares of Orla Mining and gave the stock a "buy" rating in a research note on Wednesday, March 19th. Finally, BMO Capital Markets raised their price objective on shares of Orla Mining from C$12.50 to C$14.50 in a research report on Thursday, March 20th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of C$12.56.

Orla Mining Trading Down 11.6 %

The firm's 50 day moving average is C$10.96 and its 200 day moving average is C$8.34. The company has a debt-to-equity ratio of 12.68, a current ratio of 4.54 and a quick ratio of 1.22. The company has a market capitalization of C$2.66 billion, a PE ratio of 251.15 and a beta of 1.57.

Insider Activity

In related news, Senior Officer Etienne Morin sold 77,470 shares of Orla Mining stock in a transaction on Monday, March 24th. The shares were sold at an average price of C$13.00, for a total value of C$1,007,110.00. Also, 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 transaction of C$193,257.37. Over the last ninety days, insiders sold 385,399 shares of company stock valued at $5,067,805. 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.