Orla Mining (NYSEAMERICAN:ORLA) Rating Increased to Moderate Buy at Desjardins

Desjardins upgraded shares of Orla Mining (NYSEAMERICAN:ORLA) to a moderate buy rating in a research note issued to investors on Thursday, Zacks.com reports.

Separately, Scotiabank raised their target price on Orla Mining from $5.75 to $6.00 and gave the stock a “sector perform” rating in a report on Friday, October 11th.

Orla Mining Trading Down 1.9 %

Shares of NYSEAMERICAN:ORLA traded down $0.09 on Thursday, hitting $4.74. 291,664 shares of the company were exchanged, compared to its average volume of 416,550. The company has a market capitalization of $1.52 billion, a P/E ratio of -94.90 and a beta of 0.83. The company has a current ratio of 5.89, a quick ratio of 5.02 and a debt-to-equity ratio of 0.18. Orla Mining has a 1-year low of $2.60 and a 1-year high of $5.16.

Orla Mining (NYSEAMERICAN:ORLA) last announced its quarterly earnings data on Monday, August 12th. The company reported $0.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.07. Orla Mining had a positive return on equity of 14.36% and a negative net margin of 4.12%. The firm had revenue of $84.57 million during the quarter. On average, equities research analysts anticipate that Orla Mining will post 0.25 earnings per share for the current year.

Institutional Investors Weigh In On Orla Mining

Large investors have recently modified their holdings of the business. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Orla Mining in the first quarter valued at approximately $893,000. Goehring & Rozencwajg Associates LLC increased its stake in shares of Orla Mining by 16.3% in the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 1,295,214 shares of the company’s stock worth $4,969,000 after acquiring an additional 181,900 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Orla Mining during the 2nd quarter worth $102,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Orla Mining during the 2nd quarter worth $1,151,000. Finally, CIBC Asset Management Inc boosted its position in shares of Orla Mining by 7.9% during the 2nd quarter. CIBC Asset Management Inc now owns 293,268 shares of the company’s stock valued at $1,125,000 after acquiring an additional 21,576 shares during the last quarter. Hedge funds and other institutional investors own 43.04% of the company’s stock.

About Orla Mining

Orla Mining Ltd. acquires, explores, develops, and exploits mineral properties. The company explores for gold, silver, zinc, lead, and copper deposits. It owns 100% interests in the Camino Rojo project that consists of seven concessions covering an area of 138,636 hectares located in Zacatecas, Mexico; Cerro Quema project totaling an area of 15,000 hectares located in the Azuero Peninsula, Panama; and the South Railroad project consisting of an area of 21,000 hectares located in Elko, Nevada.