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

Orla Mining Ltd. (NYSEAMERICAN:ORLA) has been given an average recommendation of “Buy” by the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and two have given a strong buy rating 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.

ORLA has been the subject of a number of research analyst reports. Scotiabank raised Orla Mining from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 27th. TD Cowen started coverage on Orla Mining in a research note on Tuesday, February 4th. They set a “hold” rating for the company. Stifel Canada upgraded 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.

Orla Mining Stock Down 4.9 %

Shares of Orla Mining stock opened at $8.84 on Friday. Orla Mining has a 52 week low of $3.24 and a 52 week high of $9.62. The company has a current ratio of 4.54, a quick ratio of 3.95 and a debt-to-equity ratio of 0.12. The business has a 50 day moving average of $6.84. The stock has a market capitalization of $2.85 billion, a P/E ratio of -883.12 and a beta of 0.71.

Hedge Funds Weigh In On Orla Mining

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