Orla Mining (TSE:OLA) Reaches New 12-Month High – Here’s Why

Orla Mining Ltd. (TSE:OLA) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$8.18 and last traded at C$8.14, with a volume of 589558 shares traded. The stock had previously closed at C$7.96.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Stifel Nicolaus boosted their price target on Orla Mining from C$8.00 to C$9.75 in a research note on Monday, December 2nd. Desjardins raised shares of Orla Mining to a “moderate buy” rating in a report on Thursday, October 31st. Scotiabank upgraded shares of Orla Mining from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from C$6.00 to C$7.75 in a research report on Wednesday, November 27th. Finally, CIBC raised their price target on shares of Orla Mining from C$8.50 to C$9.25 in a research note on Tuesday, December 17th.

Orla Mining Stock Up 2.9 %

The stock has a 50 day simple moving average of C$7.02 and a 200 day simple moving average of C$6.05. 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 stock has a market cap of C$2.62 billion, a price-to-earnings ratio of -163.80 and a beta of 1.57.

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.