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

Orla Mining Ltd. (TSE:OLA - Get Free Report) hit a new 52-week high 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 Analysts Forecast Growth

A number of equities analysts have issued reports on the company. BMO Capital Markets upped their target price on Orla Mining from C$12.50 to C$14.50 in a research report on Thursday, March 20th. Royal Bank of Canada upped their price target on shares of Orla Mining from C$13.00 to C$15.00 in a report on Friday. Desjardins raised their price objective on shares of Orla Mining from C$12.00 to C$13.00 and gave the stock a "buy" rating in a report on Wednesday, March 19th. Stifel Nicolaus set a C$15.50 target price on shares of Orla Mining and gave the company a "buy" rating in a research note on Wednesday, March 19th. Finally, CIBC increased their price target on shares of Orla Mining from C$13.75 to C$16.25 and gave the stock an "outperform" rating in a research report on Wednesday. One equities research 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. According to MarketBeat.com, Orla Mining currently has an average rating of "Buy" and a consensus price target of C$12.56.

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 50-day moving average price is C$10.90 and its 200-day moving average price is C$8.32. The company has a market capitalization of C$2.66 billion, a P/E ratio of 251.15 and a beta of 1.57.

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Insider Activity

In other news, Director Jean Robitaille sold 200,000 shares of the business's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of C$13.25, for a total transaction of C$2,650,000.00. Also, Director Charles A. Jeannes sold 15,023 shares of the company's stock in a transaction dated 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. 51.68% of the stock is currently owned by 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.