Orla Mining (TSE:OLA) Hits New 12-Month Low on Analyst Downgrade

Orla Mining Ltd. (TSE:OLA) shares 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 changing hands. The stock had previously closed at C$13.12.

A number of other equities research analysts also recently commented on OLA. Desjardins set a C$35.00 price objective on Orla Mining and gave the company a “buy” rating in a 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 decreased their target price on Orla Mining from C$28.00 to C$19.00 in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. According to MarketBeat, Orla Mining has a consensus rating of “Buy” and a consensus price target of C$29.06.

Insider Activity

In related news, insider Ling Stephen sold 2,220 shares of the company’s stock in a transaction on Monday, May 25th. The shares were 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 owned 1,915 shares in the company, valued at C$33,282.70. This represents a 53.69% decrease in their position. 51.68% of the stock is owned by company insiders.

Orla Mining Stock Down 0.7%

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

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

Orla Mining Dividend Announcement

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

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.