Orla Mining (NYSEAMERICAN:ORLA) Downgraded by Scotiabank to Sector Perform

Scotiabank downgraded shares of Orla Mining (NYSEAMERICAN:ORLA) from a sector outperform rating to a sector perform rating in a report published on Thursday morning, MarketBeat reports.

Separately, Stifel Nicolaus raised their price objective on Orla Mining from $6.00 to $6.25 and gave the stock a buy rating in a report on Wednesday, May 15th.

Orla Mining Price Performance

Orla Mining stock opened at $4.02 on Thursday. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 24.82 and a beta of 0.84. The company has a current ratio of 5.68, a quick ratio of 4.04 and a debt-to-equity ratio of 0.22. Orla Mining has a fifty-two week low of $2.60 and a fifty-two week high of $4.82.

Orla Mining (NYSEAMERICAN:ORLA) last issued its quarterly earnings data on Tuesday, March 19th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The business had revenue of $62.95 million during the quarter. Orla Mining had a negative net margin of 9.11% and a positive return on equity of 12.32%. Research analysts anticipate that Orla Mining will post 0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ORLA. Fairfax Financial Holdings Ltd. Can boosted its position in Orla Mining by 21.2% during the fourth quarter. Fairfax Financial Holdings Ltd. Can now owns 37,697,191 shares of the company’s stock valued at $121,788,000 after purchasing an additional 6,588,541 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Orla Mining by 0.7% during the 3rd quarter. Van ECK Associates Corp now owns 9,838,306 shares of the company’s stock valued at $34,782,000 after buying an additional 72,209 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in Orla Mining by 19.2% in the fourth quarter. First Eagle Investment Management LLC now owns 8,198,355 shares of the company’s stock worth $26,730,000 after buying an additional 1,323,223 shares during the last quarter. Franklin Resources Inc. increased its holdings in Orla Mining by 6.3% in the fourth quarter. Franklin Resources Inc. now owns 7,972,555 shares of the company’s stock worth $25,994,000 after buying an additional 475,000 shares during the last quarter. Finally, Invesco Ltd. raised its position in Orla Mining by 1.2% during the third quarter. Invesco Ltd. now owns 5,667,112 shares of the company’s stock valued at $20,232,000 after acquiring an additional 69,920 shares in the last quarter. 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.