294,900 Shares in Orla Mining Ltd. $ORLA Purchased by Louisbourg Investments Inc.

Key Points

• Louisbourg Investments Inc. has acquired 294,900 shares of Orla Mining Ltd., amounting to approximately $2,957,000, during the second quarter.
• Institutional investors collectively own 43.04% of Orla Mining's stock, with several firms, including Connor Clark & Lunn, increasing their holdings significantly in the first quarter.
• Orla Mining's stock has experienced notable fluctuations, with a 12-month low of $3.81 and a 12-month high of $12.91, while it currently holds a market cap of $3.59 billion.

Louisbourg Investments Inc. purchased a new position in Orla Mining Ltd. (NYSEAMERICAN:ORLA - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 294,900 shares of the company's stock, valued at approximately $2,957,000. Louisbourg Investments Inc. owned approximately 0.09% of Orla Mining as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of ORLA. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Orla Mining by 119.8% in 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 acquiring an additional 2,094,800 shares during the last quarter. Amundi lifted its holdings in Orla Mining by 49.9% in the first quarter. Amundi now owns 3,711,381 shares of the company's stock worth $35,147,000 after acquiring an additional 1,235,692 shares during the last quarter. CWA Asset Management Group LLC lifted its holdings in Orla Mining by 63.3% in the first quarter. CWA Asset Management Group LLC now owns 2,918,040 shares of the company's stock worth $27,284,000 after acquiring an additional 1,131,625 shares during the last quarter. TD Asset Management Inc lifted its holdings in Orla Mining by 15.7% in the first quarter. TD Asset Management Inc now owns 2,780,946 shares of the company's stock worth $25,969,000 after acquiring an additional 378,015 shares during the last quarter. Finally, Gabelli Funds LLC lifted its holdings in Orla Mining by 100.0% in the first quarter. Gabelli Funds LLC now owns 500,000 shares of the company's stock worth $4,675,000 after acquiring an additional 250,000 shares during the last quarter. Institutional investors own 43.04% of the company's stock.

Orla Mining Stock Performance

Shares of NYSEAMERICAN ORLA opened at $11.01 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.66 and a debt-to-equity ratio of 0.76. The stock has a 50 day simple moving average of $10.75 and a 200-day simple moving average of $10.52. The company has a market cap of $3.59 billion, a PE ratio of 220.24 and a beta of 0.33. Orla Mining Ltd. has a 12-month low of $3.81 and a 12-month high of $12.91.

Wall Street Analyst Weigh In

Separately, CIBC reissued an "outperform" rating on shares of Orla Mining in a report on Tuesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Orla Mining currently has an average rating of "Buy" and an average target price of $23.00.

Orla Mining 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.

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