Orla Mining (TSE:OLA) Upgraded to “Outperform” at Scotiabank

Orla Mining (TSE:OLA) was upgraded by equities researchers at Scotiabank from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The firm presently has a C$7.75 price target on the stock, up from their previous price target of C$6.00. Scotiabank’s target price suggests a potential upside of 17.42% from the stock’s previous close.

OLA has been the subject of a number of other reports. Stifel Nicolaus upped their price objective on Orla Mining from C$6.50 to C$8.00 in a report on Monday, October 21st. Desjardins upgraded Orla Mining to a “moderate buy” rating in a report on Thursday, October 31st. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$7.04.

Orla Mining Price Performance

Orla Mining stock traded up C$0.31 during midday trading on Wednesday, hitting C$6.60. 351,222 shares of the company’s stock were exchanged, compared to its average volume of 449,430. Orla Mining has a 52-week low of C$3.53 and a 52-week high of C$7.16. The stock has a 50-day moving average price of C$6.15 and a two-hundred day moving average price of C$5.69. The company has a debt-to-equity ratio of 17.76, a quick ratio of 1.22 and a current ratio of 5.89. The company has a market cap of C$2.11 billion, a P/E ratio of -133.00 and a beta of 1.57.

Insiders Place Their Bets

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