Orla Mining (OLA) Receives a Buy from Desjardins

Desjardins analyst Bryce Adams maintained a Buy rating on Orla Mining today and set a price target of C$24.00. The company’s shares opened today at C$14.85.

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According to TipRanks, Adams is a 5-star analyst with an average return of 22.4% and a 67.11% success rate. Adams covers the Basic Materials sector, focusing on stocks such as First Quantum Minerals, NGEx Minerals, and Magna Mining.

Orla Mining has an analyst consensus of Strong Buy, with a price target consensus of C$20.00.

Based on Orla Mining’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of C$266.93 million and a net profit of C$48.79 million. In comparison, last year the company earned a revenue of C$84.64 million and had a net profit of C$24.28 million

Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of OLA in relation to earlier this year.