Orla Mining (TSE:OLA) Reaches New 52-Week High – Should You Buy?

Shares of Orla Mining Ltd. (TSE:OLA) reached a new 52-week high during trading on Wednesday . The company traded as high as C$15.72 and last traded at C$15.65, with a volume of 849435 shares traded. The stock had previously closed at C$15.31.

Analyst Upgrades and Downgrades

Several research firms have weighed in on OLA. Desjardins boosted their target price on shares of Orla Mining from C$12.00 to C$13.00 and gave the stock a “buy” rating in a research report on Wednesday, March 19th. Scotiabank upped their target price on Orla Mining from C$7.75 to C$8.75 in a research report on Wednesday, January 15th. CIBC lifted their price target on Orla Mining from C$13.75 to C$16.25 and gave the stock an “outperform” rating in a research report on Wednesday, April 2nd. Stifel Nicolaus set a C$15.50 price target on Orla Mining and gave the company a “buy” rating in a research note on Wednesday, March 19th. Finally, Royal Bank of Canada raised their price objective on Orla Mining from C$13.00 to C$15.00 in a research note on Friday, April 4th. One equities 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 MarketBeat.com, Orla Mining has a consensus rating of “Buy” and an average target price of C$12.56.

Orla Mining Trading Up 2.2 %

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 market cap of C$3.55 billion, a price-to-earnings ratio of 334.51 and a beta of 1.57. The company has a fifty day moving average price of C$11.74 and a 200-day moving average price of C$8.85.

Insider Buying and Selling at Orla Mining

In other Orla Mining news, Director Charles A. Jeannes sold 15,023 shares of the company’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of C$12.86, for a total value of C$193,257.37. Also, Director Jean Robitaille sold 200,000 shares of the firm’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of C$13.25, for a total value of C$2,650,000.00. Over the last ninety days, insiders sold 385,399 shares of company stock valued at $5,067,805. 51.68% of the stock is 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.