Orla Mining (NYSEAMERICAN:ORLA) Price Target Raised to $6.00

Orla Mining (NYSEAMERICAN:ORLA) had its target price lifted by Scotiabank from $5.75 to $6.00 in a report issued on Friday morning, Benzinga reports. The firm currently has a sector perform rating on the stock.

Orla Mining Price Performance

Shares of NYSEAMERICAN ORLA opened at $4.52 on Friday. Orla Mining has a 52-week low of $2.60 and a 52-week high of $4.64. The company has a debt-to-equity ratio of 0.18, a current ratio of 5.89 and a quick ratio of 5.02. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of -90.30 and a beta of 0.83.

Orla Mining (NYSEAMERICAN:ORLA) last announced its quarterly earnings results on Monday, August 12th. The company reported $0.07 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.07. The firm had revenue of $84.57 million during the quarter. Orla Mining had a negative net margin of 4.12% and a positive return on equity of 14.36%. As a group, equities analysts forecast that Orla Mining will post 0.23 earnings per share for the current fiscal year.

Institutional Trading of Orla Mining

Several large investors have recently made changes to their positions in ORLA. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Orla Mining in the first quarter valued at approximately $893,000. U S Global Investors Inc. boosted its position in Orla Mining by 20.7% in the 2nd quarter. U S Global Investors Inc. now owns 301,660 shares of the company’s stock valued at $1,282,000 after buying an additional 51,660 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Orla Mining in the 2nd quarter valued at $1,151,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Orla Mining by 92.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,883 shares of the company’s stock worth $218,000 after acquiring an additional 27,315 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its stake in shares of Orla Mining by 7.9% during the second 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 period. 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.