Orla Mining (TSE:OLA) Hits New 52-Week High After Analyst Upgrade

Shares of Orla Mining Ltd. (TSE:OLA - Get Free Report) reached a new 52-week high during trading on Thursday after Scotiabank raised their price target on the stock from C$5.25 to C$6.00. The stock traded as high as C$6.18 and last traded at C$6.17, with a volume of 903080 shares. The stock had previously closed at C$5.65.

Separately, CIBC boosted their target price on Orla Mining from C$7.25 to C$7.50 in a report on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of C$6.34.

Insiders Place Their Bets

In other news, Director Elizabeth Dianne Mcgregor sold 20,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of C$5.40, for a total value of C$107,960.00. In related news, Director Jean Robitaille sold 46,600 shares of the company's stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of C$5.74, for a total value of C$267,549.24. Also, Director Elizabeth Dianne Mcgregor sold 20,000 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of C$5.40, for a total transaction of C$107,960.00. Insiders have sold a total of 101,000 shares of company stock valued at $577,457 in the last three months. Company insiders own 34.48% of the company's stock.

Orla Mining Price Performance

The company has a quick ratio of 1.22, a current ratio of 5.89 and a debt-to-equity ratio of 17.76. The company's 50-day moving average is C$5.49 and its 200-day moving average is C$5.43. The stock has a market cap of C$1.98 billion, a price-to-earnings ratio of -123.60 and a beta of 1.59.

Orla Mining (TSE:OLA - Get Free Report) last issued its earnings results on Monday, August 12th. The company reported C$0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of C$0.10 by C($0.01). The company had revenue of C$115.71 million during the quarter. Orla Mining had a negative return on equity of 2.50% and a negative net margin of 4.12%. Equities research analysts expect that Orla Mining Ltd. will post 0.2979744 earnings per share for the current fiscal year.

About Orla Mining

Orla Mining Ltd. acquires, explores, develops, and exploits mineral properties. The company explores for gold, silver, zinc, lead, and copper deposits. It owns 100% interests in the Camino Rojo project that consists of seven concessions covering an area of 138,636 hectares located in Zacatecas, Mexico; Cerro Quema project totaling an area of 15,000 hectares located in the Azuero Peninsula, Panama; and the South Railroad project consisting of an area of 21,000 hectares located in Elko, Nevada.