Desjardins Has Lowered Expectations for Orla Mining (TSE:OLA) Stock Price

Orla Mining (TSE:OLA) had its target price lowered by research analysts at Desjardins from C$30.00 to C$29.00 in a research note issued on Monday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ target price points to a potential upside of 118.21% from the stock’s previous close.

A number of other analysts also recently commented on the company. Royal Bank Of Canada reduced their price objective on Orla Mining from C$28.00 to C$19.00 in a research report on Thursday, July 9th. TD Securities upgraded Orla Mining from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 20th. Finally, Canadian Imperial Bank of Commerce lowered Orla Mining from an “outperformer” rating to a “tender” rating and reduced their price objective for the stock from C$32.00 to C$27.00 in a research note on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of C$28.39.

Orla Mining Stock Performance

TSE:OLA traded up C$0.22 during mid-day trading on Monday, hitting C$13.29. 641,171 shares of the company’s stock traded hands, compared to its average volume of 1,136,452. The firm has a market capitalization of C$4.99 billion, a price-to-earnings ratio of 18.46 and a beta of 1.33. The firm has a 50 day moving average of C$14.79 and a two-hundred day moving average of C$19.70. 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 has a 12 month low of C$11.81 and a 12 month high of C$29.99.

Orla Mining (TSE:OLA) last issued its quarterly 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 company had revenue of C$526.75 million for the quarter. On average, equities analysts forecast that Orla Mining will post 0.3352878 earnings per share for the current fiscal year.

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 that occurred 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 of the company’s stock, valued at approximately C$33,282.70. This represents a 53.69% decrease in their ownership of the stock. Corporate insiders own 51.68% of the company’s stock.

About Orla Mining

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.