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

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

Analyst Ratings Changes

OLA has been the subject of several recent research reports. Royal Bank Of Canada dropped their price objective on Orla Mining from C$28.00 to C$19.00 in a report on Thursday. 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 analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of C$29.61.

Orla Mining Trading Up 3.2%

The company has a debt-to-equity ratio of 42.47, a current ratio of 1.06 and a quick ratio of 1.22. The business has a 50 day moving average of C$16.30 and a 200 day moving average of C$20.22. The firm has a market capitalization of C$5.18 billion, a price-to-earnings ratio of 19.15 and a beta of 1.33.

Orla Mining (TSE:OLA) last released its earnings results 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 firm had revenue of C$526.75 million for the quarter. As a group, research analysts predict that Orla Mining Ltd. will post 0.3352878 earnings per share for the current fiscal year.

Orla Mining Announces Dividend

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

Insider Activity

In related news, insider Ling Stephen sold 2,220 shares of the business’s 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 completion of the transaction, the insider directly owned 1,915 shares in the company, valued at approximately C$33,282.70. The trade was 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.