Orla Mining (TSE:OLA) Reaches New 12-Month High - Should You Buy?

Orla Mining Ltd. (TSE:OLA) has reached a new 52-week high, trading at C$13.77 on Tuesday before closing at C$13.65 with a trading volume of 72,733 shares. The stock previously closed at C$13.44, showcasing significant upward movement.

Wall Street Analyst Opinions

Several research firms have recently shared their insights on Orla Mining. On March 19, Stifel Canada upgraded the stock to a 'strong-buy' rating. BMO Capital Markets subsequently raised their price target for the shares from C$12.50 to C$14.50 in a report dated March 20. Stifel Nicolaus set a price objective of C$15.50 with a 'buy' rating on the same day. Additionally, Scotiabank increased its target price from C$7.75 to C$8.75 back in January. Furthermore, CIBC has adjusted their price target from C$11.50 to C$13.75 and rated the stock as 'outperform' on March 19. Overall, one analyst rates the stock as a hold, four as buy, and one as strong buy, leading to an average rating of 'Buy' with a consensus price target of C$11.86 according to MarketBeat data.

Latest Insights on OLA

Orla Mining Stock Performance

The company has a market capitalization of C$3.07 billion, a price-to-earnings (PE) ratio of 289.19, and a beta of 1.57. Its current ratio is 4.54, quick ratio is 1.22, and the debt-to-equity ratio stands at 12.68. The stock is performing well with a 50-day moving average of C$10.61 and a 200-day moving average of C$8.17.

Insider Activity in Orla Mining

Recent insider transactions indicate notable activity. Director Jean Robitaille sold 200,000 shares on March 27 at an average price of C$13.25, totaling C$2,650,000. Additionally, Senior Officer Etienne Morin sold 77,470 shares on March 24 at an average price of C$13.00, amounting to C$1,007,110. In the past three months, insiders have sold a total of 385,399 shares valued at approximately C$5,067,805, with insider ownership at 51.68%.

Company Overview

Orla Mining Ltd is a mineral exploration company involved in acquiring and exploring mineral properties. The firm operates two gold projects: the Camino Rojo gold and silver project located in Zacatecas, Mexico, and the Cerro Quema gold project in Panama. It conducts business in Mexico, Panama, the United States, and Canada.

Investment Considerations

If you are contemplating an investment of $1,000 in Orla Mining, it’s essential to evaluate other opportunities as well. Although the stock has a 'Buy' rating from analysts, there are suggestions that some other stocks may offer better prospects. It would be worthwhile to research these alternatives thoroughly.

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Mining, Stocks, Investment