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

Orla Mining (NYSEAMERICAN:ORLA) had its price target hoisted by stock analysts at Scotiabank from $5.75 to $6.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price target indicates a potential upside of 33.33% from the stock’s previous close.

Orla Mining Stock Performance

Shares of NYSEAMERICAN:ORLA opened at $4.50 on Friday. The firm has a market cap of $1.44 billion, a P/E ratio of -90.00 and a beta of 0.83. Orla Mining has a 12 month low of $2.60 and a 12 month high of $4.64. 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 (NYSEAMERICAN:ORLA) last released 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 for the quarter. Orla Mining had a positive return on equity of 14.36% and a negative net margin of 4.12%. Sell-side analysts expect that Orla Mining will post 0.23 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ORLA. The Manufacturers Life Insurance Company boosted its position in Orla Mining by 2.8% during the second quarter. The Manufacturers Life Insurance Company now owns 177,136 shares of the company’s stock valued at $679,000 after purchasing an additional 4,827 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Orla Mining by 4.3% in the 2nd quarter. American Century Companies Inc. now owns 412,400 shares of the company’s stock valued at $1,583,000 after buying an additional 17,100 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Orla Mining by 7.9% in the second quarter. CIBC Asset Management Inc now owns 293,268 shares of the company’s stock valued at $1,125,000 after buying an additional 21,576 shares in the last quarter. Toronto Dominion Bank increased its holdings in Orla Mining by 536.1% during 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. Finally, Renaissance Technologies LLC bought a new stake in Orla Mining during the second quarter worth $102,000. Institutional investors and hedge funds own 43.04% of the company’s stock.

Orla Mining Company Profile

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.