Orla Mining (TSE:OLA) Rating Increased to Outperform at Scotiabank

Scotiabank upgraded shares of Orla Mining (TSE:OLA) from a sector perform rating to an outperform rating in a research report released on Wednesday morning,BayStreet.CA reports. Scotiabank currently has C$7.75 price objective on the stock, up from their previous price objective of C$6.00.

OLA has been the subject of a number of other reports. Desjardins upgraded Orla Mining to a “moderate buy” rating in a research note on Thursday, October 31st. Stifel Nicolaus increased their price objective on Orla Mining from C$6.50 to C$8.00 in a report on Monday, October 21st. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$7.04.

Orla Mining Price Performance

Orla Mining stock opened at C$6.58 on Wednesday. The firm has a fifty day moving average of C$6.17 and a 200-day moving average of C$5.70. The company has a quick ratio of 1.22, a current ratio of 5.89 and a debt-to-equity ratio of 17.76. Orla Mining has a 52-week low of C$3.53 and a 52-week high of C$7.16. The firm has a market capitalization of C$2.10 billion, a P/E ratio of -131.60 and a beta of 1.57.

Insider Buying and Selling

In other news, Senior Officer Andrew James Bradbury sold 12,500 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of C$5.90, for a total transaction of C$73,750.00. Also, Director Jean Robitaille sold 46,600 shares of Orla Mining stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of C$5.74, for a total value of C$267,549.24. 51.68% of the stock is owned by corporate insiders.

Orla Mining Company Profile

Orla Mining Ltd. acquires, explores, develops, and exploits mineral properties. The company explores for gold, silver, zinc, lead, and copper deposits. It owns 100% interests in the Camino Rojo project that consists of seven concessions covering an area of 138,636 hectares located in Zacatecas, Mexico; Cerro Quema project totaling an area of 15,000 hectares located in the Azuero Peninsula, Panama; and the South Railroad project consisting of an area of 21,000 hectares located in Elko, Nevada.