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

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

Analyst Upgrades and Downgrades

OLA has been the subject of several recent analyst reports. CIBC lifted their price objective on shares of Orla Mining from C$8.50 to C$9.25 in a research note on Tuesday, December 17th. Stifel Nicolaus lifted their price target on shares of Orla Mining from C$8.00 to C$9.75 in a research note on Monday, December 2nd. Scotiabank raised shares of Orla Mining from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from C$6.00 to C$7.75 in a research report on Wednesday, November 27th. Finally, Desjardins upgraded Orla Mining to a “moderate buy” rating in a research report on Thursday, October 31st.

Orla Mining Price Performance

The stock’s 50 day moving average price is C$7.05 and its 200-day moving average price is C$6.07. 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 capitalization of C$2.76 billion, a PE ratio of -172.60 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.