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

Orla Mining Ltd. (TSE:OLA) shares hit a new 52-week high on Thursday . The company traded as high as C$8.97 and last traded at C$8.97, with a volume of 623504 shares trading hands. The stock had previously closed at C$8.69.

Wall Street Analysts Forecast Growth

OLA has been the topic of a number of research analyst reports. Scotiabank raised their price objective on shares of Orla Mining from C$7.75 to C$8.75 in a research report on Wednesday, January 15th. CIBC increased their price target on shares of Orla Mining from C$8.50 to C$9.25 in a research report on Tuesday, December 17th. Stifel Nicolaus upped their price objective on shares of Orla Mining from C$8.00 to C$9.75 in a research note on Monday, December 2nd. Finally, Desjardins raised shares of Orla Mining to a “moderate buy” rating in a research note on Thursday, October 31st.

Orla Mining Stock Performance

The business’s 50 day simple moving average is C$7.81 and its two-hundred day simple moving average is C$6.49. The company has a current ratio of 5.89, a quick ratio of 1.22 and a debt-to-equity ratio of 17.76. The firm has a market capitalization of C$2.87 billion, a PE ratio of -179.40 and a beta of 1.57.

Orla Mining (TSE:OLA) last issued its quarterly earnings results on Tuesday, November 12th. The company reported C$0.08 earnings per share for the quarter, missing the consensus estimate of C$0.13 by C($0.05). Orla Mining had a negative return on equity of 2.50% and a negative net margin of 4.12%. During the same quarter in the previous year, the firm posted $0.03 EPS. Research analysts expect that Orla Mining Ltd. will post 0.3352878 earnings per share for the current fiscal year.

About Orla Mining

Orla Mining Ltd is a mineral exploration company. It is engaged in the acquisition and exploration of mineral properties. The company holds two gold projects; the Camino Rojo gold and silver project in Zacatecas State, Mexico, and the Cerro Quema gold project in Panama. It conducts business activities in the geographic areas of Mexico, Panama, the United States, and Canada.