TD Cowen Begins Coverage on Orla Mining (NYSEAMERICAN:ORLA)

TD Cowen assumed coverage on shares of Orla Mining (NYSEAMERICAN:ORLA) in a research note published on Tuesday, Marketbeat reports. The firm issued a hold rating on the stock.

Several other equities research analysts also recently issued reports on ORLA. Desjardins upgraded Orla Mining to a “moderate buy” rating in a report on Thursday, October 31st. Scotiabank upgraded Orla Mining from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 27th. Two research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $6.13.

Orla Mining Trading Up 2.6 %

NYSEAMERICAN ORLA opened at $7.09 on Tuesday. The stock has a market capitalization of $2.28 billion, a P/E ratio of -708.29 and a beta of 0.71. The company has a quick ratio of 3.95, a current ratio of 4.54 and a debt-to-equity ratio of 0.12. Orla Mining has a 12 month low of $3.16 and a 12 month high of $7.14.

Orla Mining (NYSEAMERICAN:ORLA) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). Orla Mining had a return on equity of 17.04% and a net margin of 1.42%. The business had revenue of $99.31 million during the quarter. As a group, equities analysts predict that Orla Mining will post 0.23 earnings per share for the current year.

Institutional Investors Weigh In On Orla Mining

Institutional investors and hedge funds have recently made changes to their positions in the stock. CWA Asset Management Group LLC increased its holdings in Orla Mining by 20.6% during the fourth quarter. CWA Asset Management Group LLC now owns 1,786,415 shares of the company’s stock worth $9,897,000 after buying an additional 304,748 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Orla Mining by 67.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 296,097 shares of the company’s stock valued at $1,192,000 after acquiring an additional 118,961 shares during the period. Barclays PLC increased its stake in shares of Orla Mining by 86.5% during the 3rd quarter. Barclays PLC now owns 47,177 shares of the company’s stock worth $189,000 after purchasing an additional 21,877 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Orla Mining by 262.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 284,408 shares of the company’s stock valued at $1,138,000 after purchasing an additional 205,911 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Orla Mining by 50.0% in the 3rd 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 during the period. Institutional investors 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.