CIBC Boosts Orla Mining (TSE:OLA) Price Target to C$8.50

Orla Mining (TSE:OLA) had its price objective boosted by CIBC from C$7.50 to C$8.50 in a research report issued on Monday,BayStreet.CA reports. CIBC’s price target points to a potential upside of 27.63% from the stock’s previous close.

Several other analysts also recently issued reports on OLA. Scotiabank raised shares of Orla Mining from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from C$6.00 to C$7.75 in a research note on Wednesday, November 27th. Stifel Nicolaus upped their price objective on shares of Orla Mining from C$6.50 to C$8.00 in a report on Monday, October 21st. Finally, Desjardins upgraded shares of Orla Mining to a “moderate buy” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Orla Mining currently has an average rating of “Moderate Buy” and a consensus price target of C$7.43.

Orla Mining Stock Down 1.8 %

TSE:OLA traded down C$0.12 during trading hours on Monday, hitting C$6.66. 77,630 shares of the stock traded hands, compared to its average volume of 446,294. The firm has a 50 day moving average price of C$6.22 and a 200 day moving average price of C$5.72. The company has a current ratio of 5.89, a quick ratio of 1.22 and a debt-to-equity ratio of 17.76. Orla Mining has a fifty-two week low of C$3.53 and a fifty-two week high of C$7.16. The firm has a market cap of C$2.13 billion, a price-to-earnings ratio of -133.20 and a beta of 1.57.

Insider Buying and Selling at Orla Mining

In related news, Director Jean Robitaille sold 46,600 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of C$5.74, for a total transaction of C$267,549.24. Also, Senior Officer Andrew James Bradbury sold 12,500 shares of Orla Mining stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$5.90, for a total transaction of C$73,750.00. 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.