Renaissance Technologies LLC Purchases 90,500 Shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA)

Renaissance Technologies LLC boosted its position in Orla Mining Ltd. (NYSEAMERICAN:ORLA - Free Report) by 103.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 178,300 shares of the company's stock after acquiring an additional 90,500 shares during the period. Renaissance Technologies LLC owned 0.06% of Orla Mining worth $988,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC grew its position in shares of Orla Mining by 17.3% during the 4th quarter. FMR LLC now owns 24,065,292 shares of the company's stock worth $133,264,000 after buying an additional 3,553,481 shares during the period. Russell Investments Group Ltd. bought a new stake in Orla Mining in the fourth quarter valued at approximately $131,000. Geode Capital Management LLC increased its stake in Orla Mining by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 116,293 shares of the company's stock valued at $650,000 after purchasing an additional 1,665 shares in the last quarter. National Bank of Canada FI increased its stake in Orla Mining by 3.0% in the fourth quarter. National Bank of Canada FI now owns 433,726 shares of the company's stock valued at $2,404,000 after purchasing an additional 12,618 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in Orla Mining by 0.4% in the fourth quarter. Franklin Resources Inc. now owns 7,578,812 shares of the company's stock valued at $41,914,000 after purchasing an additional 31,700 shares in the last quarter. Institutional investors own 43.04% of the company's stock.

Orla Mining Stock Up 5.1 %

Shares of ORLA stock opened at $11.00 on Thursday. The firm has a fifty day moving average of $9.10 and a 200-day moving average of $6.39. 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 Ltd. has a 12-month low of $3.24 and a 12-month high of $11.95. The company has a market capitalization of $3.55 billion, a price-to-earnings ratio of -1,098.90 and a beta of 0.71.

Analysts Set New Price Targets

Several equities research analysts have commented on ORLA shares. TD Securities raised shares of Orla Mining to a "hold" rating in a research note on Tuesday, February 4th. Stifel Canada raised shares of Orla Mining to a "strong-buy" rating in a research note on Wednesday, March 19th. Finally, TD Cowen started coverage on shares of Orla Mining in a research note on Tuesday, February 4th. They issued a "hold" rating for the company. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Orla Mining currently has an average rating of "Buy" and a consensus target price of $6.13.

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.

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