Canadian Imperial Bank of Commerce Downgrades Orla Mining (TSE:OLA) to Tender

Orla Mining (TSE:OLA) was downgraded by equities research analysts at Canadian Imperial Bank of Commerce from an “outperformer” rating to a “tender” rating in a research report issued to clients and investors on Thursday,BayStreet.CA reports. They currently have a C$27.00 price target on the stock, down from their prior price target of C$32.00. Canadian Imperial Bank of Commerce’s price target would suggest a potential upside of 120.95% from the company’s current price.

A number of other research firms have also recently issued reports on OLA. TD Securities upgraded Orla Mining from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 20th. Desjardins set a C$35.00 price target on shares of Orla Mining and gave the company a “buy” rating in a research note on Thursday, April 23rd. Finally, Royal Bank Of Canada decreased their price target on shares of Orla Mining from C$28.00 to C$19.00 in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$29.06.

Orla Mining Price Performance

TSE OLA traded down C$0.90 on Thursday, hitting C$12.22. 909,140 shares of the company’s stock were exchanged, compared to its average volume of 1,122,022. The stock has a 50-day moving average of C$15.80 and a 200-day moving average of C$20.00. The stock has a market cap of C$4.59 billion, a price-to-earnings ratio of 16.97 and a beta of 1.33. Orla Mining has a 52 week low of C$12.19 and a 52 week high of C$29.99. 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 (TSE:OLA) last issued its quarterly earnings results on Monday, May 11th. The company reported C$0.54 earnings per share (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. Analysts expect that Orla Mining will post 0.3352878 earnings per share for the current year.

Insider Activity

In related news, insider Ling Stephen sold 2,220 shares of the firm’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 transaction, the insider owned 1,915 shares in the company, valued at C$33,282.70. This trade represents a 53.69% decrease in their position. 51.68% of the stock is owned by corporate insiders.

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.