Orla Mining (NYSEAMERICAN:ORLA) Rating Increased to Strong-Buy at Scotiabank

Orla Mining (NYSEAMERICAN:ORLA) was upgraded by analysts at Scotiabank from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

Separately, Desjardins upgraded Orla Mining to a “moderate buy” rating in a research note on Thursday, October 31st.

Orla Mining Trading Up 2.4 %

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

Hedge Funds Weigh In On Orla Mining

Hedge funds and other institutional investors have recently made changes to their positions in the business. Goehring & Rozencwajg Associates LLC increased its position in Orla Mining by 16.3% in the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 1,295,214 shares of the company’s stock valued at $4,969,000 after acquiring an additional 181,900 shares during the period. CWA Asset Management Group LLC acquired a new position in shares of Orla Mining during the third quarter valued at $5,927,000. Allspring Global Investments Holdings LLC raised its stake in shares of Orla Mining by 50.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 450,000 shares of the company’s stock valued at $1,812,000 after purchasing an additional 150,000 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Orla Mining in the third quarter worth about $43,000. Finally, Renaissance Technologies LLC bought a new position in Orla Mining in the 2nd quarter valued at about $102,000. 43.04% of the stock is currently 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.