PCJ Investment Counsel Ltd. Acquires New Stake in Orla Mining Ltd. (NYSEAMERICAN:ORLA)

Key Points

• PCJ Investment Counsel Ltd. acquired a new stake in Orla Mining Ltd., purchasing 146,630 shares valued at approximately $1.37 million.
• Orla Mining's stock currently has a market cap of $3.37 billion and has a 52-week price range from $3.42 to $12.83.
• CIBC has reissued an “outperform” rating on Orla Mining, with a consensus price target of $14.50 as per market analysts.

PCJ Investment Counsel Ltd. acquired a new stake in Orla Mining Ltd. (NYSEAMERICAN:ORLA - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 146,630 shares of the company's stock, valued at approximately $1,370,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mariner LLC acquired a new stake in Orla Mining during the 4th quarter worth about $58,000. Scotia Capital Inc. acquired a new stake in Orla Mining during the 4th quarter worth about $67,000. Two Sigma Advisers LP acquired a new stake in Orla Mining during the 4th quarter worth about $84,000. Banque Cantonale Vaudoise acquired a new stake in Orla Mining during the 1st quarter worth about $86,000. Finally, Walleye Capital LLC grew its holdings in Orla Mining by 10.2% during the 4th quarter. Walleye Capital LLC now owns 19,128 shares of the company's stock worth $106,000 after acquiring an additional 1,764 shares during the period. 43.04% of the stock is currently owned by institutional investors and hedge funds.

Orla Mining Price Performance

Orla Mining stock opened at $10.36 on Friday. Orla Mining Ltd. has a 52 week low of $3.42 and a 52 week high of $12.83. The company's 50 day moving average price is $10.71 and its two-hundred day moving average price is $9.01. The company has a quick ratio of 0.62, a current ratio of 0.81 and a debt-to-equity ratio of 0.92. The stock has a market cap of $3.37 billion, a P/E ratio of -1,036.00 and a beta of 0.34.

Wall Street Analyst Weigh In

Separately, CIBC reissued 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 given a strong buy rating to the company. According to data from MarketBeat.com, Orla Mining presently has an average rating of "Buy" and a consensus 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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