Orla Mining (TSE:OLA) Stock Price Down 13.2% - Here's Why

Orla Mining Ltd. (TSE:OLA - Get Free Report) fell 13.2% during mid-day trading on Thursday . The stock traded as low as C$13.40 and last traded at C$13.91. 831,555 shares changed hands during trading, an increase of 35% from the average session volume of 615,691 shares. The stock had previously closed at C$16.02.

Analysts Set New Price Targets

A number of analysts have weighed in on OLA shares. Royal Bank Of Canada boosted their price objective on Orla Mining from C$15.00 to C$18.00 in a research report on Wednesday, June 4th. Stifel Nicolaus upped their price target on shares of Orla Mining from C$15.50 to C$19.00 in a research report on Monday, April 21st. Finally, CIBC lifted their price target on shares of Orla Mining from C$16.25 to C$18.50 in a research note on Thursday, April 17th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Orla Mining currently has a consensus rating of "Buy" and a consensus price target of C$14.82.

Orla Mining Stock Performance

The company has a debt-to-equity ratio of 12.68, a quick ratio of 1.22 and a current ratio of 4.54. The company has a market capitalization of C$3.11 billion, a PE ratio of 293.26 and a beta of 1.57. The business's 50-day moving average is C$14.67 and its 200-day moving average is C$12.69.

Insider Activity at Orla Mining

In other Orla Mining news, Director David Andrew Stephens sold 7,500 shares of Orla Mining stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of C$15.47, for a total transaction of C$116,025.75. Also, Director Timothy Quentin Haldane sold 17,962 shares of the business's stock in a transaction on Monday, June 9th. The stock was sold at an average price of C$15.06, for a total transaction of C$270,527.48. In the last 90 days, insiders sold 50,462 shares of company stock worth $781,286. 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.

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