Orla Mining (TSE:OLA) Sets New 52-Week Low on Analyst Downgrade

Orla Mining Ltd. (TSE:OLAGet Free Report) hit a new 52-week low during mid-day trading on Thursday after Canadian Imperial Bank of Commerce downgraded the stock from an outperformer rating to a tender rating. Canadian Imperial Bank of Commerce now has a C$27.00 price target on the stock, down from their previous price target of C$32.00. Orla Mining traded as low as C$12.54 and last traded at C$12.62, with a volume of 34456 shares traded. The stock had previously closed at C$13.12.

A number of other equities analysts have also weighed in on the company. Desjardins set a C$35.00 price target on Orla Mining and gave the company a “buy” rating in a research report on Thursday, April 23rd. TD Securities upgraded Orla Mining from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 20th. Finally, Royal Bank Of Canada reduced their price objective on shares of Orla Mining from C$28.00 to C$19.00 in a research note on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$29.06.

Check Out Our Latest Report on Orla Mining

Insiders Place Their Bets

In related news, insider Ling Stephen sold 2,220 shares of the stock in a transaction dated Monday, May 25th. The stock was sold at an average price of C$17.38, for a total value of C$38,583.60. Following the completion of the sale, the insider directly owned 1,915 shares of the company’s stock, valued at approximately C$33,282.70. This represents a 53.69% decrease in their position. Insiders own 51.68% of the company’s stock.

Orla Mining Trading Down 0.7%

The firm has a market capitalization of C$4.54 billion, a price-to-earnings ratio of 16.79 and a beta of 1.33. The company has a fifty day moving average price of C$15.48 and a 200-day moving average price of C$19.89. The company has a current ratio of 1.06, a quick ratio of 1.22 and a debt-to-equity ratio of 42.47.

Orla Mining (TSE:OLAGet Free Report) last issued its quarterly earnings data on Monday, May 11th. The company reported C$0.54 earnings per share for the quarter. Orla Mining had a net margin of 19.45% and a return on equity of 40.70%. The firm had revenue of C$526.75 million for the quarter. On average, equities research analysts predict that Orla Mining Ltd. will post 0.3352878 EPS for the current year.

Orla Mining Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, June 9th were paid a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Tuesday, May 26th. Orla Mining’s dividend payout ratio is 2.08%.

Orla Mining Company Profile

(Get Free Report)

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.

See Also

Receive News & Ratings for Orla Mining Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Orla Mining and related companies with MarketBeat.com's FREE daily email newsletter.