Orla Mining (TSE:OLA) Upgraded to “Outperform” at Scotiabank

Orla Mining (TSE:OLA) was upgraded by stock analysts at Scotiabank from a “sector perform” rating to an “outperform” rating in a report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a C$7.75 price target on the stock, up from their prior price target of C$6.00. Scotiabank’s target price indicates a potential upside of 17.42% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Desjardins upgraded Orla Mining to a “moderate buy” rating in a report on Thursday, October 31st. Stifel Nicolaus raised their target price on Orla Mining from C$6.50 to C$8.00 in a report on Monday, October 21st. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$7.04.

Orla Mining Stock Up 4.9 %

Shares of OLA stock traded up C$0.31 during trading hours on Wednesday, reaching C$6.60. The company had a trading volume of 351,222 shares, compared to its average volume of 449,430. Orla Mining has a 12 month low of C$3.53 and a 12 month high of C$7.16. The company has a debt-to-equity ratio of 17.76, a current ratio of 5.89 and a quick ratio of 1.22. The business has a fifty day simple moving average of C$6.15 and a 200-day simple moving average of C$5.69. The company has a market cap of C$2.11 billion, a price-to-earnings ratio of -133.00 and a beta of 1.57.

Insider Buying and Selling

In other Orla Mining news, Director Jean Robitaille sold 46,600 shares of the business’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, Senior Officer Andrew James Bradbury sold 12,500 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$5.90, for a total value of C$73,750.00. 51.68% of the stock is currently owned by corporate insiders.

Orla Mining Company Profile

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.