Orla Mining (TSE:OLA) Hits New 1-Year High – Time to Buy?

Orla Mining Ltd. (TSE:OLA) reached 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. The stock had previously closed at C$13.44.

Wall Street Analyst Weigh In

A number of research firms recently commented on OLA. Stifel Canada raised Orla Mining to a “strong-buy” rating in a research note on Wednesday, March 19th. BMO Capital Markets lifted their price target on shares of Orla Mining from C$12.50 to C$14.50 in a report on Thursday, March 20th. Stifel Nicolaus set a C$15.50 price objective on shares of Orla Mining and gave the company a “buy” rating in a research report on Wednesday, March 19th. Scotiabank raised their target price on shares of Orla Mining from C$7.75 to C$8.75 in a research report on Wednesday, January 15th. Finally, CIBC lifted their target price on shares of Orla Mining from C$11.50 to C$13.75 and gave the stock an “outperform” rating in a research note on Wednesday, March 19th. One 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 company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of C$11.86.

Orla Mining Stock Up 0.7 %

The firm has a market capitalization of C$3.07 billion, a PE ratio of 289.19 and a beta of 1.57. 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 firm has a 50-day moving average of C$10.61 and a two-hundred day moving average of C$8.17.

Insider Transactions at Orla Mining

In other Orla Mining news, Director Jean Robitaille sold 200,000 shares of the business’s stock in a transaction that occurred 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, Senior Officer Etienne Morin sold 77,470 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of C$13.00, for a total transaction of C$1,007,110.00. Insiders have sold a total of 385,399 shares of company stock worth $5,067,805 in the last three months. 51.68% of the stock is currently owned by company 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.