CIBC Issues Positive Forecast for Orla Mining (TSE:OLA) Stock Price

Orla Mining (TSE:OLA) had its price objective lifted by equities researchers at CIBC from C$8.50 to C$9.25 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. CIBC’s price objective indicates a potential upside of 17.98% from the company’s current price.

Several other research firms have also recently issued reports on OLA. Stifel Nicolaus raised their price objective on Orla Mining from C$8.00 to C$9.75 in a report on Monday, December 2nd. Desjardins raised Orla Mining to a “moderate buy” rating in a research note on Thursday, October 31st. Finally, Scotiabank raised shares of Orla Mining from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from C$6.00 to C$7.75 in a research note on Wednesday, November 27th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Orla Mining presently has a consensus rating of “Moderate Buy” and an average target price of C$7.79.

Orla Mining Stock Down 0.4 %

Shares of TSE OLA opened at C$7.84 on Tuesday. The firm has a market cap of C$2.51 billion, a P/E ratio of -156.80 and a beta of 1.57. The company has a debt-to-equity ratio of 17.76, a quick ratio of 1.22 and a current ratio of 5.89. Orla Mining has a 1 year low of C$4.04 and a 1 year high of C$8.18. The firm’s 50 day moving average price is C$6.71 and its 200 day moving average price is C$5.88.

Insider Transactions at Orla Mining

In other news, Director Jean Robitaille sold 46,600 shares of the stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of C$5.74, for a total value of C$267,549.24. Company insiders own 51.68% of the company’s stock.

Orla Mining Company Profile

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.