Orla Mining (TSE:OLA) Trading Down 4.9% – Here’s What Happened

Shares of Orla Mining Ltd. (TSE:OLA) were down 4.9% during mid-day trading on Tuesday . The company traded as low as C$13.71 and last traded at C$13.89. Approximately 811,030 shares were traded during mid-day trading, a decline of 28% from the average daily volume of 1,132,816 shares. The stock had previously closed at C$14.60.

Analysts Set New Price Targets

Several brokerages have commented on OLA. TD Securities upgraded shares of Orla Mining from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 20th. Desjardins set a C$35.00 price objective on Orla Mining and gave the stock a “buy” rating in a report 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of C$31.06.

Orla Mining Stock Performance

The business’s fifty day moving average is C$16.42 and its two-hundred day moving average is C$20.27. The company has a current ratio of 1.06, a quick ratio of 1.22 and a debt-to-equity ratio of 42.47. The company has a market capitalization of C$5.21 billion, a PE ratio of 19.29 and a beta of 1.33.

Orla Mining (TSE:OLA) last posted its earnings results on Monday, May 11th. The company reported C$0.54 EPS 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 during the quarter. Equities research analysts predict that Orla Mining Ltd. will post 0.3352878 earnings per share for the current year.

Orla Mining Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, June 9th were issued a $0.015 dividend. This represents a $0.06 annualized dividend and a yield of 0.4%. The ex-dividend date was Tuesday, May 26th. Orla Mining’s dividend payout ratio (DPR) is presently 2.08%.

Insider Transactions at Orla Mining

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

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.