Orla Mining Ltd. (NYSEAMERICAN:ORLA) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its holdings in Orla Mining Ltd. by 119.8%, owning nearly 3.84 million shares worth approximately $35.9 million at the end of the reporting period.
• The stock of Orla Mining is currently trading at $10.09 with a market cap of $3.28 billion, and has shown a recent decline of 2.6%.
• Wall Street analysts have a generally positive outlook for Orla Mining, with an average rating of "Buy" and a price target of $14.50.

Connor Clark & Lunn Investment Management Ltd. increased its holdings in Orla Mining Ltd. (NYSEAMERICAN:ORLA - Free Report) by 119.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,843,000 shares of the company's stock after purchasing an additional 2,094,800 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 1.19% of Orla Mining worth $35,898,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ORLA. Mariner LLC acquired a new position in Orla Mining in the 4th quarter worth about $58,000. Scotia Capital Inc. acquired a new position in shares of Orla Mining during the fourth quarter valued at approximately $67,000. Two Sigma Advisers LP acquired a new position in shares of Orla Mining during the fourth quarter valued at approximately $84,000. Banque Cantonale Vaudoise acquired a new position in shares of Orla Mining during the first quarter valued at approximately $86,000. Finally, Walleye Capital LLC raised its holdings in shares of Orla Mining by 10.2% during the fourth quarter. Walleye Capital LLC now owns 19,128 shares of the company's stock valued at $106,000 after acquiring an additional 1,764 shares during the last quarter. Institutional investors and hedge funds own 43.04% of the company's stock.

Orla Mining Trading Down 2.6%

NYSEAMERICAN:ORLA opened at $10.09 on Friday. The firm has a market cap of $3.28 billion, a PE ratio of -1,009.00 and a beta of 0.34. The stock has a fifty day moving average price of $10.70 and a 200 day moving average price of $9.06. Orla Mining Ltd. has a 12-month low of $3.46 and a 12-month high of $12.83. The company has a current ratio of 0.81, a quick ratio of 0.62 and a debt-to-equity ratio of 0.92.

Wall Street Analyst Weigh In

Separately, CIBC restated an "outperform" rating on shares of Orla Mining in a research report on Tuesday, July 15th. Two equities research analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $14.50.

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.

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