PCJ Investment Counsel Ltd. Makes New Investment 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 position in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 146,630 shares of the company's stock, valued at approximately $1,370,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. National Bank of Canada FI boosted its holdings in Orla Mining by 8.9% during the 1st quarter. National Bank of Canada FI now owns 472,192 shares of the company's stock valued at $4,386,000 after acquiring an additional 38,466 shares during the period. Deutsche Bank AG boosted its holdings in Orla Mining by 14.0% during the 1st quarter. Deutsche Bank AG now owns 29,021 shares of the company's stock valued at $271,000 after acquiring an additional 3,575 shares during the period. Baader Bank Aktiengesellschaft purchased a new position in Orla Mining during the 1st quarter valued at about $380,000. Banque Cantonale Vaudoise purchased a new position in shares of Orla Mining in the 1st quarter valued at about $86,000. Finally, TD Asset Management Inc boosted its stake in shares of Orla Mining by 15.7% in the 1st quarter. TD Asset Management Inc now owns 2,780,946 shares of the company's stock valued at $25,969,000 after buying an additional 378,015 shares during the period. 43.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Orla Mining Price Performance

ORLA traded down $0.61 during trading on Tuesday, reaching $9.70. 1,767,229 shares of the stock were exchanged, compared to its average volume of 1,333,250. The business's 50 day moving average price is $10.68 and its two-hundred day moving average price is $9.12. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.81 and a quick ratio of 0.62. The company has a market capitalization of $3.15 billion, a price-to-earnings ratio of -966.70 and a beta of 0.34. Orla Mining Ltd. has a 1 year low of $3.56 and a 1 year high of $12.83.

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.