Canadian Imperial Bank of Commerce Downgrades Orla Mining (TSE:OLA) to Tender

Orla Mining (TSE:OLA) was downgraded by stock analysts at Canadian Imperial Bank of Commerce from an “outperformer” rating to a “tender” rating in a report issued on Thursday,BayStreet.CA reports. They presently have a C$27.00 target price on the stock, down from their prior target price of C$32.00. Canadian Imperial Bank of Commerce’s target price points to a potential upside of 123.33% from the company’s current price.

A number of other equities analysts have also recently issued reports on OLA. TD Securities raised Orla Mining from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 20th. Royal Bank Of Canada decreased their price target on Orla Mining from C$28.00 to C$19.00 in a research note on Thursday, July 9th. Finally, Desjardins set a C$35.00 price target on Orla Mining and gave the company a “buy” rating in a research report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of C$29.06.

Orla Mining Stock Performance

TSE OLA opened at C$12.09 on Thursday. The stock has a market cap of C$4.54 billion, a P/E ratio of 16.79 and a beta of 1.33. The company’s 50-day simple moving average is C$15.48 and its 200 day simple moving average is C$19.89. Orla Mining has a twelve month low of C$11.81 and a twelve month high of C$29.99. 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 (TSE:OLA) last posted its quarterly earnings results on Monday, May 11th. The company reported C$0.54 earnings per share (EPS) for the quarter. The firm had revenue of C$526.75 million during the quarter. Orla Mining had a net margin of 19.45% and a return on equity of 40.70%. As a group, research analysts forecast that Orla Mining will post 0.3352878 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Orla Mining news, insider Ling Stephen sold 2,220 shares of the company’s stock in a transaction dated Monday, May 25th. The shares were sold at an average price of C$17.38, for a total transaction of C$38,583.60. Following the sale, the insider directly owned 1,915 shares of the company’s stock, valued at approximately C$33,282.70. This represents a 53.69% decrease in their ownership of the stock. Corporate 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.