Orla Mining (NYSEAMERICAN:ORLA) Raised to “Buy” at Zacks Investment Research

Orla Mining (NYSEAMERICAN:ORLAGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, Zacks.com reports. The brokerage presently has a $4.50 target price on the stock. Zacks Investment Research‘s price target suggests a potential upside of 11.66% from the company’s previous close.

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. “

Other equities analysts also recently issued research reports about the stock. TD Securities lowered their target price on shares of Orla Mining from C$8.00 to C$7.50 in a research note on Friday, May 13th. Desjardins boosted their target price on shares of Orla Mining from C$7.25 to C$7.50 in a research note on Wednesday. Finally, 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 Thursday. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 403.00 and a beta of 0.78. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.52 and a quick ratio of 1.28. Orla Mining has a 52 week low of $2.83 and a 52 week high of $5.24.

Orla Mining (NYSEAMERICAN:ORLAGet Rating) last posted its quarterly earnings results on Friday, March 18th. The company reported ($0.02) EPS for the quarter, hitting the consensus estimate of ($0.02). The business had revenue of $4.09 million during the quarter. On average, sell-side analysts anticipate that Orla Mining will post 0.17 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. UBS Group AG raised its holdings in shares of Orla Mining by 569.8% in the third quarter. UBS Group AG now owns 9,216 shares of the company’s stock valued at $31,000 after buying an additional 7,840 shares during the last quarter. Goldman Sachs Group Inc. purchased a new stake in shares of Orla Mining in the third quarter valued at about $48,000. Scotia Capital Inc. purchased a new stake in shares of Orla Mining in the third quarter valued at about $54,000. Shell Asset Management Co. raised its holdings in shares of Orla Mining by 31.9% in the fourth quarter. Shell Asset Management Co. now owns 16,859 shares of the company’s stock valued at $64,000 after buying an additional 4,073 shares during the last quarter. Finally, HighTower Advisors LLC raised its holdings in shares of Orla Mining by 14.2% in the third quarter. HighTower Advisors LLC now owns 27,985 shares of the company’s stock valued at $92,000 after buying an additional 3,474 shares during the last quarter. 27.47% 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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