Desjardins Issues Pessimistic Forecast for Orla Mining (TSE:OLA) Stock Price

Key Points

• Desjardins lowered its price target for Orla Mining from C$30.00 to C$29.00 while maintaining a “buy” rating, implying substantial upside from the prior close.
• Analyst sentiment remains positive overall: Orla has a consensus “Buy” rating and an average price target of C$28.39, despite recent target reductions from RBC and CIBC.
• Orla shares traded at C$13.29, well below their 52-week high of C$29.99. The company reported C$0.54 in quarterly EPS on C$526.75 million in revenue, while an insider recently sold 2,220 shares.

Orla Mining (TSE:OLA - Get Free Report) had its price objective cut by analysts at Desjardins from C$30.00 to C$29.00 in a research note issued on Monday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. Desjardins' price objective suggests a potential upside of 118.21% from the company's previous close.

Other equities analysts have also recently issued reports about the company. Royal Bank Of Canada lowered their price target on Orla Mining from C$28.00 to C$19.00 in a research report on Thursday, July 9th. TD Securities raised Orla Mining from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 20th. Finally, Canadian Imperial Bank of Commerce cut Orla Mining from an "outperformer" rating to a "tender" rating and decreased their target price for the stock from C$32.00 to C$27.00 in a report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to MarketBeat, Orla Mining presently has a consensus rating of "Buy" and an average price target of C$28.39.

Orla Mining Stock Performance

Shares of TSE OLA traded up C$0.22 during midday trading on Monday, hitting C$13.29. The company's stock had a trading volume of 641,171 shares, compared to its average volume of 1,136,452. Orla Mining has a 1-year low of C$11.81 and a 1-year high of C$29.99. The firm's fifty day moving average price is C$14.79 and its 200-day moving average price is C$19.70. The company has a debt-to-equity ratio of 42.47, a quick ratio of 1.22 and a current ratio of 1.06. The firm has a market cap of C$4.99 billion, a P/E ratio of 18.46 and a beta of 1.33.

Orla Mining (TSE:OLA - Get Free Report) last posted its earnings results on Monday, May 11th. The company reported C$0.54 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 during the quarter. On average, sell-side analysts forecast that Orla Mining will post 0.3352878 EPS for the current fiscal year.

Insider Buying and Selling

In other Orla Mining news, insider Ling Stephen sold 2,220 shares of the company's stock in a transaction dated 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 transaction, the insider directly owned 1,915 shares of the company's stock, valued at C$33,282.70. This represents a 53.69% decrease in their position. 51.68% of the stock is 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.

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