Royal Bank Of Canada Lowers Orla Mining (TSE:OLA) Price Target to C$19.00

Key Points

• Royal Bank of Canada cut its price target on Orla Mining from C$28.00 to C$19.00, implying about 38% upside from the prior close.
• Despite the lower target, analyst sentiment remains positive overall: Orla Mining still holds a “Buy” consensus rating, with a consensus price target of C$29.61.
• The stock traded at C$13.73 on Thursday, while the company recently reported strong quarterly results, including C$0.54 EPS and revenue of C$526.75 million.

Orla Mining (TSE:OLA - Get Free Report) had its price target dropped by equities research analysts at Royal Bank Of Canada from C$28.00 to C$19.00 in a research note issued on Thursday,BayStreet.CA reports. Royal Bank Of Canada's price objective would indicate a potential upside of 38.38% from the company's previous close.

A number of other equities research analysts have also commented on the stock. Desjardins set a C$35.00 price objective on shares of Orla Mining and gave the stock a "buy" rating in a report on Thursday, April 23rd. TD Securities raised shares of Orla Mining from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 20th. 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 MarketBeat.com, Orla Mining currently has a consensus rating of "Buy" and a consensus target price of C$29.61.

Orla Mining Price Performance

OLA stock traded up C$0.37 during midday trading on Thursday, reaching C$13.73. 375,139 shares of the company's stock traded hands, compared to its average volume of 1,128,211. The company has a 50-day simple moving average of C$16.30 and a two-hundred day simple moving average of C$20.22. The company has a quick ratio of 1.22, a current ratio of 1.06 and a debt-to-equity ratio of 42.47. Orla Mining has a 1-year low of C$12.67 and a 1-year high of C$29.99. The company has a market cap of C$5.15 billion, a price-to-earnings ratio of 19.07 and a beta of 1.33.

Orla Mining (TSE:OLA - Get Free Report) last announced 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 for the quarter. On average, analysts anticipate that Orla Mining will post 0.3352878 earnings per share for the current year.

Insiders Place Their Bets

In other Orla Mining 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 transaction, the insider directly owned 1,915 shares of the company's stock, valued at approximately C$33,282.70. This trade represents a 53.69% decrease in their ownership of the stock. 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.

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