Scotiabank analyst Ovais Habib downgraded Orla Mining to Sector Perform from Outperform with an unchanged price target of C$5.75. The analyst cites the company’s “rich” valuation and persisting permitting headwinds for the downgrade. The firm remains cautious on the timeline for receipt of outstanding permits needed to proceed with the Camino Rojo pit expansion as designed, particularly given the current political climate in Mexico.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ORLA:
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue