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

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

Separately, Stifel Nicolaus lifted their price target on shares of Orla Mining from $6.00 to $6.25 and gave the company a buy rating in a report on Wednesday, May 15th.

Orla Mining Stock Performance

NYSEAMERICAN:ORLA opened at $4.16 on Thursday. The company has a current ratio of 5.68, a quick ratio of 4.04 and a debt-to-equity ratio of 0.22. The firm has a market cap of $1.32 billion, a P/E ratio of -51.99 and a beta of 0.84. Orla Mining has a twelve month low of $2.60 and a twelve month high of $4.82.

Orla Mining (NYSEAMERICAN:ORLA) last released its quarterly earnings results on Tuesday, March 19th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.04. Orla Mining had a negative net margin of 9.11% and a positive return on equity of 12.32%. The firm had revenue of $62.95 million for the quarter. Sell-side analysts anticipate that Orla Mining will post 0.17 earnings per share for the current year.

Institutional Trading of Orla Mining

Institutional investors have recently made changes to their positions in the stock. Rathbones Group PLC raised its holdings in shares of Orla Mining by 37.4% during the fourth quarter. Rathbones Group PLC now owns 20,950 shares of the company’s stock valued at $69,000 after acquiring an additional 5,700 shares during the period. CIBC Asset Management Inc grew its position in Orla Mining by 2.5% in the fourth quarter. CIBC Asset Management Inc now owns 236,826 shares of the company’s stock worth $775,000 after acquiring an additional 5,771 shares in the last quarter. Barclays PLC boosted its holdings in shares of Orla Mining by 6.2% during the 3rd quarter. Barclays PLC now owns 106,763 shares of the company’s stock worth $381,000 after buying an additional 6,201 shares during the period. First Personal Financial Services boosted its holdings in shares of Orla Mining by 22.1% during the 4th quarter. First Personal Financial Services now owns 38,115 shares of the company’s stock worth $124,000 after buying an additional 6,905 shares during the period. Finally, HighTower Advisors LLC boosted its holdings in shares of Orla Mining by 12.2% during the 3rd quarter. HighTower Advisors LLC now owns 80,617 shares of the company’s stock worth $290,000 after buying an additional 8,780 shares during the period. 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.