Orla Mining (TSE:OLA) Trading Down 9.9% – Here’s Why

Orla Mining Ltd. (TSE:OLA) shares fell 9.9% during trading on Friday . The stock traded as low as C$17.31 and last traded at C$17.33. 2,573,435 shares were traded during trading, an increase of 187% from the average session volume of 896,478 shares. The stock had previously closed at C$19.23.

Analyst Upgrades and Downgrades

OLA has been the subject of a number of recent analyst reports. Royal Bank Of Canada lifted their target price on shares of Orla Mining from C$23.00 to C$26.00 in a research note on Monday, October 20th. CIBC raised their target price on Orla Mining from C$25.00 to C$27.00 in a research note on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Orla Mining presently has a consensus rating of “Buy” and an average target price of C$17.11.

Orla Mining Price Performance

The firm has a 50-day simple moving average of C$16.22 and a two-hundred day simple moving average of C$15.21. The company has a market capitalization of C$5.96 billion, a price-to-earnings ratio of 109.56 and a beta of 0.14. The company has a current ratio of 4.54, a quick ratio of 1.22 and a debt-to-equity ratio of 12.68.

Orla Mining (TSE:OLA) last posted its earnings results on Tuesday, November 11th. The company reported C$0.22 EPS for the quarter. Orla Mining had a return on equity of 2.24% and a net margin of 3.15%.The firm had revenue of C$382.88 million for the quarter. As a group, analysts predict that Orla Mining Ltd. will post 0.3352878 earnings per share for the current fiscal year.

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.