CIBC Issues Positive Forecast for Orla Mining (NYSEAMERICAN:ORLA) Stock Price

Orla Mining (NYSEAMERICAN:ORLA - Free Report) had its price objective boosted by CIBC from $18.50 to $23.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has an outperformer rating on the stock.

Separately, Stifel Canada upgraded shares of Orla Mining to a "strong-buy" rating in a research report on Wednesday, March 19th. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $14.50.

Orla Mining Trading Down 3.5%

ORLA stock traded down $0.42 during midday trading on Tuesday, hitting $11.37. The stock had a trading volume of 273,916 shares, compared to its average volume of 900,321. The company has a current ratio of 0.81, a quick ratio of 0.62 and a debt-to-equity ratio of 0.92. The firm has a market cap of $3.70 billion, a P/E ratio of -1,136.50 and a beta of 0.35. The business has a fifty day moving average price of $10.49 and a two-hundred day moving average price of $8.28. Orla Mining has a 1-year low of $3.24 and a 1-year high of $12.43.

Institutional Investors Weigh In On Orla Mining

A number of institutional investors and hedge funds have recently made changes to their positions in ORLA. FMR LLC increased its holdings in Orla Mining by 17.3% during the 4th quarter. FMR LLC now owns 24,065,292 shares of the company's stock worth $133,264,000 after purchasing an additional 3,553,481 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new position in shares of Orla Mining during the fourth quarter valued at approximately $11,944,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Orla Mining by 119.8% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,843,000 shares of the company's stock worth $35,898,000 after buying an additional 2,094,800 shares in the last quarter. Amundi grew its holdings in Orla Mining by 49.9% during the first quarter. Amundi now owns 3,711,381 shares of the company's stock worth $35,147,000 after buying an additional 1,235,692 shares in the last quarter. Finally, CWA Asset Management Group LLC raised its position in Orla Mining by 63.3% in the 1st quarter. CWA Asset Management Group LLC now owns 2,918,040 shares of the company's stock valued at $27,284,000 after buying an additional 1,131,625 shares during the last quarter. Institutional investors and hedge funds 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.