294,900 Shares in Orla Mining Ltd. $ORLA Acquired by Louisbourg Investments Inc.

Louisbourg Investments Inc. bought a new position in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 294,900 shares of the company’s stock, valued at approximately $2,957,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ORLA. Ritholtz Wealth Management bought a new stake in Orla Mining during the first quarter worth approximately $164,000. CWA Asset Management Group LLC raised its holdings in Orla Mining by 63.3% during the first quarter. CWA Asset Management Group LLC now owns 2,918,040 shares of the company’s stock worth $27,284,000 after purchasing an additional 1,131,625 shares in the last quarter. Intact Investment Management Inc. raised its holdings in Orla Mining by 5.8% during the first quarter. Intact Investment Management Inc. now owns 608,929 shares of the company’s stock worth $5,688,000 after purchasing an additional 33,440 shares in the last quarter. XML Financial LLC bought a new stake in Orla Mining during the first quarter worth approximately $214,000. Finally, Oppenheimer & Co. Inc. bought a new position in shares of Orla Mining in the first quarter valued at $238,000. Institutional investors own 43.04% of the company’s stock.

Orla Mining Price Performance

NYSEAMERICAN ORLA opened at $11.01 on Friday. The stock has a market capitalization of $3.59 billion, a P/E ratio of 220.24 and a beta of 0.33. Orla Mining Ltd. has a 1 year low of $3.81 and a 1 year high of $12.91. The business’s fifty day moving average is $10.75 and its two-hundred day moving average is $10.52. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.66 and a current ratio of 0.85.

Analyst Upgrades and Downgrades

Separately, CIBC reaffirmed an “outperform” rating on shares of Orla Mining in a report on Tuesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $23.00.

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.