Brokerages Set Orla Mining Ltd. (NYSEAMERICAN:ORLA) Target Price at $6.13

Shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) have been given an average recommendation of “Buy” by the five analysts that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $6.13.

Several research analysts have weighed in on the stock. TD Securities upgraded shares of Orla Mining to a “hold” rating in a research report on Tuesday, February 4th. TD Cowen assumed coverage on shares of Orla Mining in a report on Tuesday, February 4th. They issued a “hold” rating on the stock. Stifel Canada upgraded Orla Mining to a “strong-buy” rating in a research report on Wednesday, March 19th. Finally, Scotiabank raised Orla Mining from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 27th.

Orla Mining Price Performance

ORLA opened at $9.14 on Friday. 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 has a 12 month low of $3.24 and a 12 month high of $9.62. The firm has a market cap of $2.95 billion, a PE ratio of -913.09 and a beta of 0.71. The company has a 50 day simple moving average of $6.97.

Institutional Trading of Orla Mining

A number of hedge funds have recently made changes to their positions in the stock. CWA Asset Management Group LLC raised its stake in Orla Mining by 20.6% during the 4th quarter. CWA Asset Management Group LLC now owns 1,786,415 shares of the company’s stock valued at $9,897,000 after acquiring an additional 304,748 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Orla Mining by 67.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 296,097 shares of the company’s stock worth $1,192,000 after purchasing an additional 118,961 shares in the last quarter. Barclays PLC lifted its stake in Orla Mining by 86.5% during the third quarter. Barclays PLC now owns 47,177 shares of the company’s stock valued at $189,000 after purchasing an additional 21,877 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Orla Mining by 262.3% during the third quarter. JPMorgan Chase & Co. now owns 284,408 shares of the company’s stock worth $1,138,000 after buying an additional 205,911 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Orla Mining by 11.9% in the third quarter. Geode Capital Management LLC now owns 114,628 shares of the company’s stock worth $463,000 after buying an additional 12,159 shares during the last quarter. Institutional investors and hedge funds own 43.04% of the company’s stock.

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.