Orla Mining (NYSEAMERICAN:ORLA) Upgraded by Scotiabank to Strong-Buy Rating

Scotiabank upgraded shares of Orla Mining (NYSEAMERICAN:ORLA) from a hold rating to a strong-buy rating in a report published on Wednesday morning,Zacks.com reports.

Separately, Desjardins raised Orla Mining to a “moderate buy” rating in a report on Thursday, October 31st.

Orla Mining Price Performance

NYSEAMERICAN ORLA opened at $4.77 on Wednesday. The company has a market capitalization of $1.53 billion, a PE ratio of -476.52 and a beta of 0.79. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.54 and a quick ratio of 3.95. Orla Mining has a 12 month low of $2.60 and a 12 month high of $5.16.

Institutional Investors Weigh In On Orla Mining

Several large investors have recently made changes to their positions in the stock. U S Global Investors Inc. lifted its holdings in Orla Mining by 20.7% during the 2nd quarter. U S Global Investors Inc. now owns 301,660 shares of the company’s stock valued at $1,282,000 after purchasing an additional 51,660 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Orla Mining during the 2nd quarter valued at $1,151,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in 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 during the last quarter. CIBC Asset Management Inc lifted its holdings in Orla Mining by 7.9% during the 2nd quarter. CIBC Asset Management Inc now owns 293,268 shares of the company’s stock valued at $1,125,000 after purchasing an additional 21,576 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in Orla Mining by 4.3% during the 2nd quarter. American Century Companies Inc. now owns 412,400 shares of the company’s stock valued at $1,583,000 after purchasing an additional 17,100 shares during the last quarter. Institutional investors and hedge funds 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.