Orla Mining (TSE:OLA) Trading Down 6.6% - Here's What Happened

Key Points

• Orla Mining Ltd. experienced a significant decline of 6.6% in its stock price during mid-day trading, with shares trading as low as C$13.00 before closing at C$13.24.
• Analysts have mixed views with CIBC increasing its price target to C$18.50, while Stifel Nicolaus lowered theirs to C$18.50, resulting in an average rating of "Buy" with a target price of C$14.75.
• Insider trading activity revealed that insiders sold a total of 50,462 shares valued at $781,286 in the last 90 days, with company insiders owning 51.68% of the stock.

Orla Mining Ltd. (TSE:OLA - Get Free Report) fell 6.6% during trading on Tuesday . The company traded as low as C$13.00 and last traded at C$13.24. 80,380 shares were traded during mid-day trading, a decline of 87% from the average session volume of 638,933 shares. The stock had previously closed at C$14.18.

Analyst Upgrades and Downgrades

A number of brokerages have commented on OLA. Stifel Nicolaus decreased their price objective on Orla Mining from C$19.00 to C$18.50 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Royal Bank Of Canada increased their target price on Orla Mining from C$15.00 to C$18.00 in a report on Wednesday, June 4th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of C$14.75.

Orla Mining Stock Up 0.1%

The company has a debt-to-equity ratio of 12.68, a current ratio of 4.54 and a quick ratio of 1.22. The company has a market capitalization of C$3.09 billion, a P/E ratio of 291.33 and a beta of 1.57. The stock has a 50-day moving average price of C$14.43 and a 200-day moving average price of C$13.30.

Insider Buying and Selling

In other news, Senior Officer Sylvain Guerard sold 15,000 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of C$15.98, for a total transaction of C$239,668.50. Also, Director Timothy Quentin Haldane sold 17,962 shares of the firm's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of C$15.06, for a total value of C$270,527.48. Insiders have sold 50,462 shares of company stock valued at $781,286 over the last three months. 51.68% of the stock is owned by 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.