Orla Mining (TSE:OLA) Hits New 12-Month Low – Here’s Why

Orla Mining Ltd. (TSE:OLA) shares hit a new 52-week low on Thursday . The company traded as low as C$12.54 and last traded at C$12.62, with a volume of 34456 shares trading hands. The stock had previously closed at C$13.12.

Analyst Ratings Changes

A number of research firms have recently issued reports on OLA. Royal Bank Of Canada dropped their price target on Orla Mining from C$28.00 to C$19.00 in a research note on Thursday, July 9th. Desjardins set a C$35.00 target price on Orla Mining and gave the company a “buy” rating in a report on Thursday, April 23rd. Finally, TD Securities raised Orla Mining from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to MarketBeat.com, Orla Mining has an average rating of “Buy” and a consensus target price of C$29.61.

Orla Mining Stock Performance

The company has a quick ratio of 1.22, a current ratio of 1.06 and a debt-to-equity ratio of 42.47. The business has a 50 day moving average price of C$15.80 and a two-hundred day moving average price of C$20.00. The stock has a market cap of C$4.67 billion, a P/E ratio of 17.29 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 earnings per share for the quarter. The company had revenue of C$526.75 million during the quarter. Orla Mining had a net margin of 19.45% and a return on equity of 40.70%. On average, sell-side analysts forecast that Orla Mining Ltd. will post 0.3352878 earnings per share for the current fiscal year.

Orla Mining Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, June 9th were given a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Tuesday, May 26th. Orla Mining’s dividend payout ratio is currently 2.08%.

Insider Activity at Orla Mining

In other Orla Mining news, insider Ling Stephen sold 2,220 shares of Orla Mining stock in a transaction on 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 completion of the transaction, the insider directly owned 1,915 shares of the company’s stock, valued at C$33,282.70. The trade was a 53.69% decrease in their ownership of the stock. Company 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.