Orla Mining Ltd. (NYSEAMERICAN:ORLA) Receives $27.00 Average Price Target from Brokerages

Shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) have received a consensus rating of “Buy” from the nine brokerages that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $27.00.

Several research firms recently issued reports on ORLA. Zacks Research cut shares of Orla Mining from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. TD Cowen raised shares of Orla Mining from a “hold” rating to a “buy” rating in a research note on Wednesday, May 20th. Finally, TD Securities raised shares of Orla Mining from a “hold” rating to a “buy” rating in a research note on Wednesday, May 20th.

Orla Mining Stock Performance

Shares of ORLA stock opened at $9.44 on Friday. The company’s 50-day moving average price is $9.37 and its 200-day moving average price is $12.41. The company has a current ratio of 1.06, a quick ratio of 0.88 and a debt-to-equity ratio of 0.39. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 13.88 and a beta of 0.28. Orla Mining has a twelve month low of $8.43 and a twelve month high of $21.98.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ORLA. Van ECK Associates Corp raised its position in Orla Mining by 279.9% in the fourth quarter. Van ECK Associates Corp now owns 19,391,604 shares of the company’s stock valued at $261,201,000 after purchasing an additional 14,287,477 shares during the period. Franklin Resources Inc. grew its holdings in shares of Orla Mining by 1.0% during the 4th quarter. Franklin Resources Inc. now owns 7,686,849 shares of the company’s stock worth $103,386,000 after purchasing an additional 74,925 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Orla Mining during the 2nd quarter worth about $74,238,000. First Eagle Investment Management LLC acquired a new stake in shares of Orla Mining during the 2nd quarter worth about $46,581,000. Finally, TD Asset Management Inc raised its holdings in Orla Mining by 11.0% in the 4th quarter. TD Asset Management Inc now owns 3,930,398 shares of the company’s stock valued at $52,931,000 after buying an additional 389,687 shares during the period. 43.04% of the stock is currently owned by hedge funds and other institutional investors.

About Orla Mining

Orla Mining Ltd. is a Canadian precious metals mining company focused on the acquisition, development and operation of gold properties in the Americas. The company is headquartered in Vancouver, British Columbia, and its activities are centered on advancing and operating projects in Mexico, the United States and Panama.

Orla’s principal operating asset is the Camino Rojo Oxide Gold Mine in Zacatecas, Mexico, an open-pit, heap-leach operation that produces gold doré, with silver recovered as a byproduct.