Orla Mining (TSE:OLA) Cut to Tender at Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce downgraded shares of Orla Mining (TSE:OLA) from an outperformer rating to a tender rating in a research report released on Thursday morning,BayStreet.CA reports. The firm currently has C$27.00 target price on the stock, down from their prior target price of C$32.00.

Other analysts have also issued reports about the stock. Royal Bank Of Canada cut their target price on shares of Orla Mining from C$28.00 to C$19.00 in a research report on Thursday, July 9th. TD Securities upgraded shares of Orla Mining from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 20th. Finally, Desjardins set a C$35.00 price target on shares of Orla Mining and gave the stock a “buy” rating in a research note on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of C$29.06.

Orla Mining Stock Performance

TSE:OLA opened at C$12.09 on Thursday. The company 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 debt-to-equity ratio of 42.47, a current ratio of 1.06 and a quick ratio of 1.22. Orla Mining has a 1-year low of C$11.81 and a 1-year high of C$29.99. The business has a 50 day moving average of C$15.48 and a 200 day moving average of C$19.89.

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

Orla Mining Dividend Announcement

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

Insiders Place Their Bets

In other Orla Mining news, insider Ling Stephen sold 2,220 shares of Orla Mining stock in a transaction that occurred on 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 sale, the insider owned 1,915 shares of the company’s stock, valued at C$33,282.70. The trade was a 53.69% decrease in their position. 51.68% of the stock is owned by corporate insiders.

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.