BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Raises Stake in Orla Mining Ltd. $ORLA

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

Several other hedge funds also recently modified their holdings of ORLA. Geode Capital Management LLC boosted its position in shares of Orla Mining by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 116,293 shares of the company's stock valued at $650,000 after buying an additional 1,665 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Orla Mining by 103.1% during the fourth quarter. Renaissance Technologies LLC now owns 178,300 shares of the company's stock valued at $988,000 after buying an additional 90,500 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Orla Mining during the fourth quarter valued at approximately $173,000. Mariner LLC purchased a new position in shares of Orla Mining during the fourth quarter valued at approximately $58,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Orla Mining by 9.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 974,951 shares of the company's stock valued at $5,401,000 after buying an additional 82,754 shares during the last quarter. Hedge funds and other institutional investors own 43.04% of the company's stock.

Orla Mining Stock Performance

Shares of ORLA traded up $0.32 on Monday, reaching $11.06. 1,186,066 shares of the company's stock traded hands, compared to its average volume of 1,332,605. 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 market cap of $3.60 billion, a PE ratio of 221.24 and a beta of 0.35. The stock's 50 day simple moving average is $10.43 and its two-hundred day simple moving average is $9.70. Orla Mining Ltd. has a 52-week low of $3.81 and a 52-week high of $12.83.

Wall Street Analysts Forecast Growth

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

About Orla Mining

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.