Orla Mining Ltd. $ORLA Stake Increased by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

Key Points

• British Columbia Investment Management Corp increased its holdings in Orla Mining Ltd. by 26.5%, acquiring a total of 117,979 shares valued at approximately $1.1 million.
• Other institutional investors have also significantly increased their positions in Orla Mining, with Connor Clark & Lunn Investment Management Ltd. raising its stake by 119.8%.
• CIBC has issued an "outperform" rating for Orla Mining, with the stock currently holding an average target price of $14.50.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA - Free Report) by 26.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 117,979 shares of the company's stock after purchasing an additional 24,695 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Orla Mining were worth $1,102,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Orla Mining by 119.8% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,843,000 shares of the company's stock worth $35,898,000 after purchasing an additional 2,094,800 shares during the last quarter. CWA Asset Management Group LLC boosted its stake in shares of Orla Mining by 63.3% during the 1st quarter. CWA Asset Management Group LLC now owns 2,918,040 shares of the company's stock worth $27,284,000 after purchasing an additional 1,131,625 shares during the last quarter. TD Asset Management Inc boosted its position in shares of 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. Goehring & Rozencwajg Associates LLC boosted its position in shares of Orla Mining by 2.2% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 1,397,753 shares of the company's stock worth $12,951,000 after acquiring an additional 30,722 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Orla Mining by 9.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 974,951 shares of the company's stock worth $5,401,000 after acquiring an additional 82,754 shares during the last quarter. 43.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, CIBC reissued an "outperform" rating on shares of Orla Mining in a research report on Tuesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $14.50.

Orla Mining Trading Up 3.0%

Shares of Orla Mining stock traded up $0.32 during trading hours on Friday, hitting $11.06. The company's stock had a trading volume of 1,186,066 shares, compared to its average volume of 1,328,543. The company has a market capitalization of $3.60 billion, a PE ratio of 221.24 and a beta of 0.34. The business has a fifty day moving average of $10.41 and a 200 day moving average of $9.62. Orla Mining Ltd. has a 1-year low of $3.81 and a 1-year high of $12.83. The company has a quick ratio of 0.66, a current ratio of 0.85 and a debt-to-equity ratio of 0.76.

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.