Orla Mining (NYSEAMERICAN:ORLA) Price Target Raised to $27.00

Key Points

• CIBC raised its price target for Orla Mining from $25.00 to $27.00, indicating a potential upside of 117.92% based on current stock prices.
• Orla Mining's stock traded up by 2.0% to $12.39, with a trading volume significantly exceeding its average.
• Institutional investors now hold 43.04% of Orla Mining's stock, reflecting growing interest in the company.

Orla Mining (NYSEAMERICAN:ORLA - Get Free Report) had its price objective hoisted by CIBC from $25.00 to $27.00 in a research report issued on Monday,Benzinga reports. The firm presently has an "outperformer" rating on the stock. CIBC's price objective would suggest a potential upside of 117.92% from the stock's current price.

Orla Mining Trading Up 2.0%

Shares of ORLA stock traded up $0.24 during mid-day trading on Monday, hitting $12.39. The company's stock had a trading volume of 2,153,595 shares, compared to its average volume of 1,698,657. The company's fifty day simple moving average is $11.01 and its 200-day simple moving average is $10.66. Orla Mining has a 52 week low of $3.81 and a 52 week high of $13.91. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.66 and a current ratio of 0.85. The company has a market cap of $4.04 billion, a PE ratio of 247.85 and a beta of 0.33.

Institutional Investors Weigh In On Orla Mining

Hedge funds and other institutional investors have recently bought and sold shares of the business. XML Financial LLC bought a new position in Orla Mining in the first quarter valued at $214,000. Oppenheimer & Co. Inc. bought a new position in shares of Orla Mining during the first quarter valued at approximately $238,000. Bessemer Group Inc. bought a new stake in shares of Orla Mining during the first quarter valued at approximately $762,000. U S Global Investors Inc. grew its position in Orla Mining by 94.1% in the 1st quarter. U S Global Investors Inc. now owns 372,922 shares of the company's stock worth $3,482,000 after purchasing an additional 180,797 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in Orla Mining by 11.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 504,000 shares of the company's stock worth $4,708,000 after purchasing an additional 52,000 shares during the period. Institutional investors own 43.04% of the company's stock.

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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