Orla Mining (NYSEAMERICAN:ORLA) Lifted to “Hold” at Zacks Investment Research

Orla Mining (NYSEAMERICAN:ORLAGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

According to Zacks, “Orla Mining Ltd. is primarily engaged in developing the Camino Rojo Oxide Gold Project, an advanced gold and silver open-pit and heap leach project, located in Zacatecas State, Central Mexico. Orla Mining Ltd. is based in VANCOUVER, BC. “

Separately, Scotiabank boosted their target price on shares of Orla Mining from C$6.75 to C$7.00 in a research note on Tuesday, April 19th.

NYSEAMERICAN:ORLA opened at $4.03 on Wednesday. The firm has a market cap of $1.00 billion, a PE ratio of -36.64 and a beta of 0.40. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.28 and a quick ratio of 1.02. Orla Mining has a 52-week low of $2.83 and a 52-week high of $5.24.

Hedge funds have recently made changes to their positions in the stock. Invesco Ltd. increased its stake in shares of Orla Mining by 49.7% during the 4th quarter. Invesco Ltd. now owns 3,132,111 shares of the company’s stock valued at $11,965,000 after acquiring an additional 1,039,517 shares during the last quarter. Wells Fargo & Company MN acquired a new position in shares of Orla Mining during the 2nd quarter valued at about $1,240,000. D.A. Davidson & CO. acquired a new position in shares of Orla Mining during the 4th quarter valued at about $956,000. National Bank of Canada FI acquired a new position in shares of Orla Mining during the 4th quarter valued at about $628,000. Finally, Franklin Resources Inc. increased its stake in shares of Orla Mining by 1.7% during the 3rd quarter. Franklin Resources Inc. now owns 7,621,752 shares of the company’s stock valued at $25,123,000 after acquiring an additional 130,000 shares during the last quarter. 26.16% of the stock is owned by hedge funds and other institutional investors.

Orla Mining Company Profile (Get Rating)

Orla Mining Ltd. acquires, explores for, and develops 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 163,129 hectares located in Zacatecas, Mexico; and Cerro Quema project totaling an area of 14,800 hectares located in the Azuero Peninsula, Panama.

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