Orla Mining Ltd. (NYSEAMERICAN:ORLA) Given Consensus Rating of "Buy" by Brokerages

Key Points

• Orla Mining Ltd. has received an average rating of "Buy" from five ratings firms, with a 12-month price objective of $14.50.
• The company's stock has seen significant institutional investment, with FMR LLC increasing its position by 17.3% in the last quarter.
• Orla Mining operates multiple projects in Mexico, Panama, and Nevada, focusing on acquiring and developing mineral properties for gold, silver, zinc, lead, and copper.

Orla Mining Ltd. (NYSEAMERICAN:ORLA - Get Free Report) has earned a consensus recommendation of "Buy" from the five analysts that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $14.50.

Separately, CIBC reissued an "outperform" rating on shares of Orla Mining in a report on Tuesday, July 15th.

Institutional Trading of Orla Mining

Hedge funds have recently modified their holdings of the company. SG Americas Securities LLC boosted its position in Orla Mining by 207.7% during the 2nd quarter. SG Americas Securities LLC now owns 33,604 shares of the company's stock worth $337,000 after acquiring an additional 22,683 shares during the last quarter. Fiera Capital Corp bought a new stake in shares of Orla Mining in the second quarter worth $6,594,000. Geode Capital Management LLC boosted its holdings in Orla Mining by 3.3% during the second quarter. Geode Capital Management LLC now owns 124,405 shares of the company's stock worth $1,255,000 after purchasing an additional 3,948 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in Orla Mining in the second quarter valued at $108,000. Finally, Profund Advisors LLC acquired a new stake in Orla Mining in the 2nd quarter valued at $176,000. 43.04% of the stock is currently owned by institutional investors and hedge funds.

Orla Mining Stock Performance

Shares of ORLA traded down $0.27 during trading hours on Friday, reaching $10.09. 1,205,727 shares of the company's stock traded hands, compared to its average volume of 1,376,784. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of -1,009.00 and a beta of 0.34. The business's fifty day simple moving average is $10.70 and its two-hundred day simple moving average is $9.09. Orla Mining has a twelve month low of $3.46 and a twelve month high of $12.83. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.81 and a quick ratio of 0.62.

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.