Counterpoint Mutual Funds LLC Invests $292,000 in Orla Mining Ltd. (NYSEAMERICAN:ORLA)

Counterpoint Mutual Funds LLC purchased a new position in Orla Mining Ltd. (NYSEAMERICAN:ORLA) during the fourth quarter, Holdings Channel.com reports. The firm purchased 52,788 shares of the company’s stock, valued at approximately $292,000.

Other hedge funds have also modified their holdings of the company. Intact Investment Management Inc. acquired a new position in Orla Mining during the fourth quarter worth $3,186,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Orla Mining during the fourth quarter worth $9,668,000. Net Worth Advisory Group acquired a new position in Orla Mining during the fourth quarter worth $241,000. Amundi increased its position in Orla Mining by 6.7% during the fourth 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. Finally, Raymond James Financial Inc. acquired a new position in Orla Mining during the fourth quarter worth $173,000. 43.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on ORLA. TD Cowen began coverage on shares of Orla Mining in a research report on Tuesday, February 4th. They set a “hold” rating on the stock. TD Securities raised shares of Orla Mining to a “hold” rating in a research report on Tuesday, February 4th. Finally, Scotiabank raised shares of Orla Mining from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 27th. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $6.13.

Orla Mining Stock Performance

Shares of NYSEAMERICAN:ORLA opened at $9.12 on Wednesday. The firm has a market capitalization of $2.94 billion, a P/E ratio of -911.09 and a beta of 0.71. The company has a 50-day simple moving average of $6.63. Orla Mining Ltd. 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.

Orla Mining Company 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.