Orla Mining (TSE:OLA) Price Target Raised to C$18.50 at CIBC

Orla Mining (TSE:OLA) had its price objective raised by stock analysts at CIBC from C$16.25 to C$18.50 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. CIBC’s price objective would suggest a potential upside of 18.51% from the company’s current price.

OLA has been the subject of a number of other reports. Scotiabank boosted their price target on shares of Orla Mining from C$7.75 to C$8.75 in a research note on Wednesday, January 15th. Desjardins increased their price target on Orla Mining from C$12.00 to C$13.00 and gave the company a “buy” rating in a research note on Wednesday, March 19th. BMO Capital Markets lifted their price objective on Orla Mining from C$12.50 to C$14.50 in a research note on Thursday, March 20th. Cormark increased their target price on Orla Mining from C$10.00 to C$12.00 in a research note on Thursday, March 20th. Finally, TD Securities upgraded Orla Mining to a “hold” rating in a research report on Tuesday, February 4th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of C$12.84.

Orla Mining Price Performance

OLA opened at C$15.61 on Thursday. The stock has a market capitalization of C$3.54 billion, a P/E ratio of 333.65 and a beta of 1.57. Orla Mining has a one year low of C$4.60 and a one year high of C$16.30. The company has a debt-to-equity ratio of 12.68, a current ratio of 4.54 and a quick ratio of 1.22. The company’s 50 day simple moving average is C$12.08 and its 200-day simple moving average is C$9.02.

Insider Buying and Selling

In related news, Director Jean Robitaille sold 42,906 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of C$13.00, for a total transaction of C$557,778.00. Also, Director Charles A. Jeannes sold 15,023 shares of the stock in a transaction on Friday, March 21st. The shares were sold at an average price of C$12.86, for a total transaction of C$193,257.37. Over the last 90 days, insiders sold 385,399 shares of company stock worth $5,067,805. 51.68% of the stock is owned by insiders.

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.