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

Orla Mining Ltd. (NYSEAMERICAN:ORLA) has been given a consensus recommendation of “Buy” by the five ratings firms that are presently covering the company, MarketBeat.com reports. 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. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $6.13.

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

Hedge Funds Weigh In On Orla Mining

A number of hedge funds and other institutional investors have recently made changes to their positions in ORLA. FMR LLC boosted its stake 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 last quarter. Franklin Resources Inc. raised its position in shares of 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 during the period. Amundi lifted its stake in shares of Orla Mining by 6.7% during the 4th quarter. Amundi now owns 2,475,689 shares of the company’s stock worth $14,483,000 after buying an additional 155,200 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new position in shares of Orla Mining in the fourth quarter valued at approximately $11,944,000. Finally, CWA Asset Management Group LLC grew 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 valued at $9,897,000 after buying an additional 304,748 shares in the last quarter. 43.04% of the stock is owned by institutional investors.

Orla Mining Stock Performance

Orla Mining stock opened at $9.14 on Friday. The company has a 50 day moving average of $6.97. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of -913.09 and a beta of 0.71. Orla Mining has a twelve month low of $3.24 and a twelve month 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.

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.