Ewing Morris & Co. Investment Partners Ltd. bought a new position in Orla Mining Ltd. (NYSEAMERICAN:ORLA - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 73,000 shares of the company's stock, valued at approximately $404,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC lifted its stake in Orla Mining by 17.3% during the 4th quarter. FMR LLC now owns 24,065,292 shares of the company's stock valued at $133,264,000 after acquiring an additional 3,553,481 shares during the period. Hillsdale Investment Management Inc. bought a new position in Orla Mining during the 4th quarter valued at about $11,944,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Orla Mining during the 4th quarter valued at about $9,668,000. The Manufacturers Life Insurance Company lifted its stake in Orla Mining by 197.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 880,354 shares of the company's stock valued at $4,882,000 after acquiring an additional 584,257 shares during the period. Finally, Intact Investment Management Inc. bought a new position in Orla Mining during the 4th quarter valued at about $3,186,000. 43.04% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
ORLA has been the subject of several analyst reports. Stifel Canada raised shares of Orla Mining to a "strong-buy" rating in a report on Wednesday, March 19th. TD Cowen initiated coverage on shares of Orla Mining in a report on Tuesday, February 4th. They issued a "hold" rating for the company. Finally, TD Securities raised shares of Orla Mining to a "hold" rating in a report on Tuesday, February 4th. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $6.13.
Get Our Latest Analysis on Orla Mining
Orla Mining Stock Performance
NYSEAMERICAN:ORLA traded up $0.39 during trading hours on Friday, reaching $11.10. The company had a trading volume of 854,394 shares, compared to its average volume of 674,516. Orla Mining Ltd. has a 1-year low of $3.24 and a 1-year high of $11.95. The firm has a market cap of $3.58 billion, a PE ratio of -1,108.89 and a beta of 0.71. The business's 50 day moving average price is $9.64 and its 200-day moving average price is $6.62. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.54 and a quick ratio of 3.95.
Orla Mining Profile
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Free Report)
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.
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