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

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

Orla Mining Stock Performance

Shares of NYSEAMERICAN ORLA opened at $4.50 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 5.02 and a current ratio of 5.89. Orla Mining has a 52-week low of $2.60 and a 52-week high of $4.64. The company has a market cap of $1.44 billion, a price-to-earnings ratio of -90.00 and a beta of 0.83.

Orla Mining (NYSEAMERICAN:ORLA) last posted its earnings results on Monday, August 12th. The company reported $0.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.07. The company had revenue of $84.57 million for the quarter. Orla Mining had a positive return on equity of 14.36% and a negative net margin of 4.12%. On average, analysts anticipate that Orla Mining will post 0.23 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ORLA. Renaissance Technologies LLC acquired a new position in Orla Mining during the second quarter worth about $102,000. Toronto Dominion Bank increased its holdings in Orla Mining by 536.1% in the second quarter. Toronto Dominion Bank now owns 27,563 shares of the company’s stock worth $106,000 after buying an additional 23,230 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Orla Mining by 92.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,883 shares of the company’s stock valued at $218,000 after purchasing an additional 27,315 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Orla Mining by 2.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 177,136 shares of the company’s stock valued at $679,000 after acquiring an additional 4,827 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in Orla Mining during the first quarter worth approximately $893,000. 43.04% of the stock is owned by institutional investors and hedge funds.

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.