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

Orla Mining Ltd. (TSE:OLA - Get Free Report)'s share price reached a new 52-week high on Monday . The company traded as high as C$13.30 and last traded at C$13.21, with a volume of 175461 shares traded. The stock had previously closed at C$12.51.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Stifel Canada upgraded Orla Mining to a "strong-buy" rating in a research note on Wednesday. Scotiabank increased their price target on Orla Mining from C$7.75 to C$8.75 in a research report on Wednesday, January 15th. CIBC boosted their price objective on Orla Mining from C$11.50 to C$13.75 and gave the stock an "outperform" rating in a research report on Wednesday. TD Securities raised shares of Orla Mining to a "hold" rating in a report on Tuesday, February 4th. Finally, Cormark boosted their price target on shares of Orla Mining from C$10.00 to C$12.00 in a report on Thursday. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of C$11.86.

Orla Mining Stock Performance

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$2.88 billion, a PE ratio of 271.67 and a beta of 1.57. The stock has a 50-day simple moving average of C$9.93 and a 200 day simple moving average of C$7.78.

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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.