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

Orla Mining Ltd. (TSE:OLA) shares hit a new 52-week high on Tuesday . The stock traded as high as C$13.77 and last traded at C$13.65, with a volume of 72733 shares changing hands. The stock had previously closed at C$13.44.

Wall Street Analysts Forecast Growth

OLA has been the subject of a number of analyst reports. Cormark increased their target price on shares of Orla Mining from C$10.00 to C$12.00 in a report on Thursday, March 20th. Stifel Nicolaus set a C$15.50 price objective on Orla Mining and gave the stock a “buy” rating in a research report on Wednesday, March 19th. Stifel Canada upgraded Orla Mining to a “strong-buy” rating in a report on Wednesday, March 19th. CIBC lifted their price target on shares of Orla Mining from C$13.75 to C$16.25 and gave the company an “outperform” rating in a report on Wednesday. Finally, TD Securities raised shares of Orla Mining to a “hold” rating in a research report on Tuesday, February 4th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$12.21.

Orla Mining Stock Performance

The company has a debt-to-equity ratio of 12.68, a quick ratio of 1.22 and a current ratio of 4.54. The business’s 50-day moving average is C$10.81 and its 200-day moving average is C$8.28. The company has a market capitalization of C$3.10 billion, a PE ratio of 292.40 and a beta of 1.57.

Insider Activity

In related news, Director Charles A. Jeannes sold 15,023 shares of the stock in a transaction dated Friday, March 21st. The shares were sold at an average price of C$12.86, for a total transaction 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 transaction of C$2,650,000.00. Over the last ninety days, insiders sold 385,399 shares of company stock worth $5,067,805. Insiders own 51.68% of the company’s stock.

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.