CIBC Raises Orla Mining (TSE:OLA) Price Target to C$16.25

Orla Mining (TSE:OLA) had its target price upped by equities researchers at CIBC from C$13.75 to C$16.25 in a report issued on Wednesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. CIBC’s price target points to a potential upside of 19.13% from the company’s previous close.

Several other research firms have also recently weighed in on OLA. BMO Capital Markets increased their price target on shares of Orla Mining from C$12.50 to C$14.50 in a research note on Thursday, March 20th. TD Securities raised shares of Orla Mining to a “hold” rating in a research note on Tuesday, February 4th. Cormark lifted their target price on Orla Mining from C$10.00 to C$12.00 in a research report on Thursday, March 20th. Scotiabank lifted their price objective on Orla Mining from C$7.75 to C$8.75 in a research note on Wednesday, January 15th. Finally, Stifel Nicolaus set a C$15.50 price objective on shares of Orla Mining and gave the stock a “buy” rating in a report on Wednesday, March 19th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Orla Mining has an average rating of “Buy” and a consensus price target of C$12.21.

Orla Mining Price Performance

Shares of TSE:OLA traded up C$0.35 during midday trading on Wednesday, hitting C$13.64. The company’s stock had a trading volume of 244,883 shares, compared to its average volume of 619,847. The company has a debt-to-equity ratio of 12.68, a quick ratio of 1.22 and a current ratio of 4.54. The business’s 50 day simple moving average is C$10.71 and its 200 day simple moving average is C$8.22. Orla Mining has a 12-month low of C$4.60 and a 12-month high of C$13.79. The company has a market cap of C$3.09 billion, a P/E ratio of 291.55 and a beta of 1.57.

Insider Activity at Orla Mining

In related news, Director Charles A. Jeannes sold 15,023 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of C$12.86, for a total transaction of C$193,257.37. Also, Senior Officer Paul Schmidt sold 50,000 shares of Orla Mining stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of C$13.19, for a total transaction of C$659,660.00. Insiders have sold 385,399 shares of company stock valued at $5,067,805 over the last ninety days. Corporate insiders own 51.68% of the company’s stock.

Orla Mining Company Profile

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.