Orla Mining (TSE:OLA) Stock Price Down 16.3% – Here’s Why

Orla Mining Ltd. (TSE:OLA) shares fell 16.3% on Monday . The stock traded as low as C$12.86 and last traded at C$12.96. 350,833 shares were traded during mid-day trading, a decline of 42% from the average session volume of 602,522 shares. The stock had previously closed at C$15.48.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Royal Bank of Canada boosted their price target on shares of Orla Mining from C$13.00 to C$15.00 in a research report on Friday, April 4th. BMO Capital Markets boosted their price target on shares of Orla Mining from C$12.50 to C$14.50 in a research report on Thursday, March 20th. TD Securities raised shares of Orla Mining to a “hold” rating in a research report on Tuesday, February 4th. Cormark boosted their price objective on shares of Orla Mining from C$10.00 to C$12.00 in a report on Thursday, March 20th. Finally, Stifel Canada upgraded shares of Orla Mining to a “strong-buy” rating in a report on Wednesday, March 19th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of C$13.28.

Orla Mining Price Performance

The firm has a market capitalization of C$3.00 billion, a price-to-earnings ratio of 282.57 and a beta of 1.57. The company has a fifty day moving average price of C$13.60 and a two-hundred day moving average price of C$10.00. The company has a quick ratio of 1.22, a current ratio of 4.54 and a debt-to-equity ratio of 12.68.

Insider Buying and Selling

In other news, Director Charles A. Jeannes sold 15,023 shares of the firm’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of C$12.86, for a total value of C$193,257.37. Also, Director Jean Robitaille sold 42,906 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of C$13.00, for a total value of C$557,778.00. Insiders sold a total of 385,399 shares of company stock valued at $5,067,805 over the last three months. 51.68% of the stock is currently owned by company insiders.

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.