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

Key Points

• Orla Mining's price target has been lowered from C$19.00 to C$18.50 by Stifel Nicolaus, although the firm maintains a "buy" rating on the stock.
• The company's stock has seen a recent trading increase of 5.0%, reaching a price of C$14.23, with a potential upside of 30.01% from the new price target.
• Insider transactions revealed that company insiders sold a total of 50,462 shares worth $781,286 over the last quarter, with 51.68% of the stock owned by insiders.

Orla Mining (TSE:OLA - Get Free Report) had its target price lowered by equities research analysts at Stifel Nicolaus from C$19.00 to C$18.50 in a report released on Wednesday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. Stifel Nicolaus' target price indicates a potential upside of 33.09% from the company's current price.

A number of other analysts have also issued reports on the company. CIBC boosted their target price on Orla Mining from C$16.25 to C$18.50 in a research report on Thursday, April 17th. Royal Bank Of Canada boosted their target price on Orla Mining from C$15.00 to C$18.00 in a research report on Wednesday, June 4th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of C$14.75.

Orla Mining Trading Down 2.5%

Shares of OLA stock traded down C$0.35 during trading on Wednesday, hitting C$13.90. 561,244 shares of the stock traded hands, compared to its average volume of 643,204. The firm has a market capitalization of C$3.15 billion, a P/E ratio of 297.10 and a beta of 1.57. The company has a debt-to-equity ratio of 12.68, a current ratio of 4.54 and a quick ratio of 1.22. Orla Mining has a 52-week low of C$4.76 and a 52-week high of C$17.45. The firm's fifty day moving average price is C$14.63 and its 200-day moving average price is C$13.19.

Insider Buying and Selling

In related news, Director Timothy Quentin Haldane sold 17,962 shares of the company's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of C$15.06, for a total transaction of C$270,527.48. Also, Senior Officer Sylvain Guerard sold 15,000 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of C$15.98, for a total transaction of C$239,668.50. In the last ninety days, insiders sold 50,462 shares of company stock valued at $781,286. Corporate insiders own 51.68% of the company's stock.

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.