Raymond James Financial Inc. acquired a new stake in Orla Mining Ltd. (NYSEAMERICAN:ORLA - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 31,191 shares of the company's stock, valued at approximately $173,000.
Other hedge funds have also recently modified their holdings of the company. Aigen Investment Management LP acquired a new stake in shares of Orla Mining during the fourth quarter worth about $129,000. Russell Investments Group Ltd. acquired a new stake in shares of Orla Mining during the fourth quarter worth about $131,000. Artisan Partners Limited Partnership lifted its position in shares of Orla Mining by 55.8% during the fourth quarter. Artisan Partners Limited Partnership now owns 33,500 shares of the company's stock worth $185,000 after purchasing an additional 12,000 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Orla Mining during the fourth quarter worth about $206,000. Finally, Net Worth Advisory Group acquired a new stake in shares of Orla Mining during the fourth quarter worth about $241,000. Hedge funds and other institutional investors own 43.04% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on ORLA. TD Cowen began coverage on shares of Orla Mining in a report on Tuesday, February 4th. They issued a "hold" rating on the stock. TD Securities raised shares of Orla Mining to a "hold" rating in a report on Tuesday, February 4th. Finally, Stifel Canada raised shares of Orla Mining to a "strong-buy" rating in a report on Wednesday, March 19th. Two equities research analysts have rated the stock with a hold rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $6.00.
Check Out Our Latest Research Report on Orla Mining
Orla Mining Stock Performance
NYSEAMERICAN:ORLA traded up $0.02 during midday trading on Friday, reaching $9.10. The stock had a trading volume of 971,692 shares, compared to its average volume of 694,049. The stock has a market cap of $2.93 billion, a P/E ratio of -909.09 and a beta of 0.71. Orla Mining Ltd. has a 12-month low of $3.24 and a 12-month high of $11.95. The firm has a fifty day simple moving average of $9.82 and a two-hundred day simple moving average of $6.71. The company has a quick ratio of 3.95, a current ratio of 4.54 and a debt-to-equity ratio of 0.12.
Orla Mining Company Profile
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Free Report)
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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