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

Orla Mining (TSE:OLA) was upgraded by research analysts at Scotiabank from a “sector perform” rating to an “outperform” rating in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has a C$7.75 target price on the stock, up from their prior target price of C$6.00. Scotiabank’s price objective would suggest a potential upside of 14.64% from the company’s previous close.

OLA has been the topic of a number of other reports. Stifel Nicolaus upped their price objective on shares of Orla Mining from C$6.50 to C$8.00 in a research note on Monday, October 21st. Desjardins raised shares of Orla Mining to a “moderate buy” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$7.04.

Orla Mining Stock Performance

TSE OLA opened at C$6.76 on Wednesday. Orla Mining has a twelve month low of C$3.53 and a twelve month high of C$7.16. 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 has a market capitalization of C$2.16 billion, a price-to-earnings ratio of -135.20 and a beta of 1.57. The stock has a fifty day simple moving average of C$6.19 and a 200 day simple moving average of C$5.71.

Insider Activity

In other news, Senior Officer Andrew James Bradbury sold 12,500 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of C$5.90, for a total value of C$73,750.00. Also, Director Jean Robitaille sold 46,600 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of C$5.74, for a total transaction of C$267,549.24. Corporate insiders own 51.68% of the company’s stock.

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.