NewGen Asset Management Ltd Makes New $4.71 Million Investment in Orla Mining Ltd. (NYSEAMERICAN:ORLA)

NewGen Asset Management Ltd purchased a new position in Orla Mining Ltd. (NYSEAMERICAN:ORLA - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,450,000 shares of the company's stock, valued at approximately $4,712,000. Orla Mining comprises approximately 2.4% of NewGen Asset Management Ltd's investment portfolio, making the stock its 14th biggest position. NewGen Asset Management Ltd owned about 0.46% of Orla Mining at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ORLA. Bank of Nova Scotia acquired a new position in Orla Mining in the 3rd quarter worth approximately $53,000. Quantbot Technologies LP acquired a new stake in Orla Mining during the third quarter worth about $54,000. First Personal Financial Services raised its position in Orla Mining by 22.1% during the fourth quarter. First Personal Financial Services now owns 38,115 shares of the company's stock valued at $124,000 after acquiring an additional 6,905 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Orla Mining by 50.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,089 shares of the company's stock valued at $180,000 after acquiring an additional 18,375 shares during the period. Finally, HighTower Advisors LLC grew its stake in shares of Orla Mining by 12.2% during the 3rd quarter. HighTower Advisors LLC now owns 80,617 shares of the company's stock worth $290,000 after purchasing an additional 8,780 shares during the period. Hedge funds and other institutional investors own 43.04% of the company's stock.

Orla Mining Stock Performance

Shares of NYSEAMERICAN:ORLA traded down $0.02 during midday trading on Friday, hitting $3.90. The company's stock had a trading volume of 159,895 shares, compared to its average volume of 356,271. Orla Mining Ltd. has a 12-month low of $2.60 and a 12-month high of $4.82. The company has a market cap of $1.24 billion, a P/E ratio of -43.33 and a beta of 0.84. The company has a current ratio of 5.07, a quick ratio of 4.04 and a debt-to-equity ratio of 0.23.

Orla Mining (NYSEAMERICAN:ORLA - Get Free Report) last posted its earnings results on Tuesday, March 19th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.04. The firm had revenue of $62.95 million during the quarter. Orla Mining had a negative net margin of 11.56% and a positive return on equity of 11.09%. On average, sell-side analysts forecast that Orla Mining Ltd. will post 0.12 earnings per share for the current fiscal year.

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.