Orla Mining (TSE:OLA) Reaches New 1-Year High – Here’s Why

Orla Mining Ltd. (TSE:OLA)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$11.11 and last traded at C$11.11, with a volume of 79909 shares changing hands. The stock had previously closed at C$10.43.

Wall Street Analyst Weigh In

Several research firms recently weighed in on OLA. Desjardins raised their target price on shares of Orla Mining from C$10.00 to C$12.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Scotiabank upped their price objective on Orla Mining from C$7.75 to C$8.75 in a report on Wednesday, January 15th. CIBC upped their price target on shares of Orla Mining from C$11.00 to C$11.50 in a research note on Wednesday, February 26th. Stifel Nicolaus upped their target price on shares of Orla Mining from C$8.00 to C$9.75 in a research report on Monday, December 2nd. Finally, BMO Capital Markets lifted their target price on Orla Mining from C$8.00 to C$12.50 in a report on Tuesday, March 4th.

Orla Mining Stock Up 5.8 %

The firm has a market cap of C$2.50 billion, a PE ratio of 235.97 and a beta of 1.57. The company has a 50-day simple moving average of C$9.27 and a 200-day simple moving average of C$7.42. The company has a debt-to-equity ratio of 12.68, a current ratio of 4.54 and a quick ratio of 1.22.

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.