Orla Mining (TSE:OLA) Stock Rating Lowered by Scotiabank

Orla Mining (TSE:OLA) was downgraded by investment analysts at Scotiabank from an “outperform” rating to a “sector perform” rating in a research note issued on Thursday, Marketbeat.com reports. They presently have a C$5.75 price target on the stock. Scotiabank’s target price points to a potential upside of 1.41% from the stock’s previous close.

A number of other research firms also recently weighed in on OLA. Desjardins increased their target price on shares of Orla Mining from C$6.75 to C$7.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. TD Securities decreased their target price on shares of Orla Mining from C$6.00 to C$5.50 and set a “hold” rating for the company in a research report on Wednesday, May 15th. Finally, Stifel Nicolaus increased their target price on shares of Orla Mining from C$6.00 to C$6.25 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$6.28.

Orla Mining Stock Performance

Orla Mining stock opened at C$5.67 on Thursday. The business has a 50 day moving average of C$5.36 and a 200-day moving average of C$4.73. Orla Mining has a 1 year low of C$3.53 and a 1 year high of C$6.52. The company has a debt-to-equity ratio of 21.76, a current ratio of 5.68 and a quick ratio of 1.22. The company has a market capitalization of C$1.80 billion, a P/E ratio of -47.25 and a beta of 1.59.

Orla Mining (TSE:OLA) last released its quarterly earnings data on Tuesday, March 19th. The company reported C$0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.05 by C$0.02. Orla Mining had a negative return on equity of 5.47% and a negative net margin of 9.11%. The company had revenue of C$85.70 million during the quarter. On average, equities research analysts predict that Orla Mining will post 0.2189915 earnings per share for the current year.

Insiders Place Their Bets

In related news, Senior Officer John Andrew Cormier sold 10,600 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of C$5.85, for a total value of C$62,010.00. In related news, Senior Officer John Andrew Cormier sold 10,600 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of C$5.85, for a total value of C$62,010.00. Also, Director Timothy Quentin Haldane sold 65,000 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of C$5.97, for a total value of C$387,972.00. In the last three months, insiders have sold 142,335 shares of company stock worth $815,590. Corporate insiders own 34.77% of the company’s stock.

About Orla Mining

Orla Mining Ltd. acquires, explores, develops, and exploits mineral properties. The company explores for gold, silver, zinc, lead, and copper deposits. It owns 100% interests in the Camino Rojo project that consists of seven concessions covering an area of 138,636 hectares located in Zacatecas, Mexico; Cerro Quema project totaling an area of 15,000 hectares located in the Azuero Peninsula, Panama; and the South Railroad project consisting of an area of 21,000 hectares located in Elko, Nevada.