Scotia Capital Inc. Acquires New Shares in Orla Mining Ltd. (NYSEAMERICAN:ORLA)

Scotia Capital Inc. acquired a new position in Orla Mining Ltd. (NYSEAMERICAN:ORLA) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 12,196 shares of the company’s stock, valued at approximately $67,000.

Several other hedge funds have also recently bought and sold shares of the business. Sanctuary Advisors LLC acquired a new stake in shares of Orla Mining in the third quarter worth $90,000. Aigen Investment Management LP acquired a new position in Orla Mining during the 4th quarter worth $129,000. Russell Investments Group Ltd. bought a new stake in Orla Mining during the fourth quarter valued at about $131,000. Raymond James Financial Inc. acquired a new stake in shares of Orla Mining in the fourth quarter valued at about $173,000. Finally, Artisan Partners Limited Partnership grew its position in shares of Orla Mining by 55.8% in the fourth quarter. Artisan Partners Limited Partnership now owns 33,500 shares of the company’s stock valued at $185,000 after purchasing an additional 12,000 shares during the last quarter. 43.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ORLA has been the subject of several recent analyst reports. TD Cowen assumed coverage on Orla Mining in a research note on Tuesday, February 4th. They set a “hold” rating for the company. Stifel Canada raised 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 report on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Orla Mining has a consensus rating of “Buy” and a consensus target price of $6.13.

Orla Mining Trading Up 1.0 %

Shares of ORLA opened at $11.18 on Wednesday. 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 stock has a market cap of $3.60 billion, a PE ratio of -1,116.88 and a beta of 0.71. Orla Mining Ltd. has a 1 year low of $3.24 and a 1 year high of $11.32. The stock has a 50 day simple moving average of $8.17 and a 200-day simple moving average of $6.01.

Orla Mining Profile

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.