Orla Mining (NYSEAMERICAN:ORLA) Stock Rating Upgraded by Stifel Canada

Orla Mining (NYSEAMERICAN:ORLA) was upgraded by analysts at Stifel Canada to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

Other analysts have also issued reports about the company. Scotiabank upgraded Orla Mining from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 27th. TD Securities upgraded Orla Mining to a “hold” rating in a research note on Tuesday, February 4th. Finally, TD Cowen initiated coverage on Orla Mining in a research note on Tuesday, February 4th. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $6.13.

Orla Mining Stock Performance

NYSEAMERICAN:ORLA opened at $9.30 on Wednesday. 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 52-week low of $3.24 and a 52-week high of $9.62. The company has a market cap of $3.00 billion, a price-to-earnings ratio of -929.07 and a beta of 0.71. The company’s fifty day moving average is $6.77.

Hedge Funds Weigh In On Orla Mining

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ORLA. Dynamic Technology Lab Private Ltd purchased a new position in Orla Mining during the third quarter worth about $242,000. The Manufacturers Life Insurance Company grew its position in Orla Mining by 67.2% during the third quarter. The Manufacturers Life Insurance Company now owns 296,097 shares of the company’s stock worth $1,192,000 after buying an additional 118,961 shares in the last quarter. D.A. Davidson & CO. purchased a new position in shares of Orla Mining in the 3rd quarter worth about $1,539,000. Walleye Capital LLC purchased a new position in shares of Orla Mining in the 3rd quarter worth about $69,000. Finally, PDT Partners LLC boosted its holdings in shares of Orla Mining by 53.6% in the 3rd quarter. PDT Partners LLC now owns 70,379 shares of the company’s stock worth $282,000 after purchasing an additional 24,545 shares in the last quarter. 43.04% of the stock is currently owned by hedge funds and other institutional investors.

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.