The Manufacturers Life Insurance Company Grows Stake in Orla Mining Ltd. (NYSEAMERICAN:ORLA)

The Manufacturers Life Insurance Company raised its holdings in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA - Free Report) by 197.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 880,354 shares of the company's stock after buying an additional 584,257 shares during the period. The Manufacturers Life Insurance Company owned about 0.27% of Orla Mining worth $4,882,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. FMR LLC lifted its holdings in shares of Orla Mining by 17.3% during the fourth quarter. FMR LLC now owns 24,065,292 shares of the company's stock valued at $133,264,000 after purchasing an additional 3,553,481 shares during the last quarter. Franklin Resources Inc. raised its holdings in Orla Mining by 0.4% in the 4th quarter. Franklin Resources Inc. now owns 7,578,812 shares of the company's stock worth $41,914,000 after acquiring an additional 31,700 shares during the last quarter. Amundi raised its holdings in Orla Mining by 6.7% in the 4th quarter. Amundi now owns 2,475,689 shares of the company's stock worth $14,483,000 after acquiring an additional 155,200 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new position in Orla Mining in the 4th quarter worth approximately $11,944,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Orla Mining in the 4th quarter worth approximately $9,668,000. 43.04% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ORLA has been the subject of a number of recent analyst reports. TD Cowen initiated coverage on shares of Orla Mining in a report on Tuesday, February 4th. They issued a "hold" rating for the company. Stifel Canada raised shares of Orla Mining to a "strong-buy" rating in a research report on Wednesday, March 19th. Finally, TD Securities raised shares of Orla Mining to a "hold" rating in a research report on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $6.13.

Orla Mining Trading Down 2.9%

NYSEAMERICAN ORLA traded down $0.25 on Wednesday, reaching $8.60. 676,367 shares of the company were exchanged, compared to its average volume of 687,662. The business's fifty day moving average price is $9.72 and its 200 day moving average price is $6.65. The stock has a market capitalization of $2.77 billion, a P/E ratio of -858.84 and a beta of 0.71. The company has a current ratio of 4.54, a quick ratio of 3.95 and a debt-to-equity ratio of 0.12. Orla Mining Ltd. has a fifty-two week low of $3.24 and a fifty-two week high of $11.95.

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.