Orla Mining Ltd. (NYSEAMERICAN:ORLA) Given Average Recommendation of “Buy” by Brokerages

Orla Mining Ltd. (NYSEAMERICAN:ORLA) has been assigned an average recommendation of “Buy” from the nine ratings firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $27.00.

Separately, Zacks Research lowered shares of Orla Mining from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th.

Orla Mining Stock Performance

ORLA stock opened at $9.44 on Friday. The stock’s 50 day simple moving average is $9.36 and its 200 day simple moving average is $12.22. Orla Mining has a 12-month low of $8.43 and a 12-month high of $21.98. The firm has a market cap of $3.27 billion, a P/E ratio of 13.88 and a beta of 0.28. The company has a current ratio of 1.06, a quick ratio of 0.88 and a debt-to-equity ratio of 0.39.

Hedge Funds Weigh In On Orla Mining

A number of hedge funds and other institutional investors have recently bought and sold shares of ORLA. Renaissance Technologies LLC raised its position in shares of Orla Mining by 32.1% during the 1st quarter. Renaissance Technologies LLC now owns 1,376,799 shares of the company’s stock worth $22,208,000 after purchasing an additional 334,600 shares during the period. Groupe la Francaise grew its stake in Orla Mining by 80.0% during the 1st quarter. Groupe la Francaise now owns 1,260,000 shares of the company’s stock worth $20,195,000 after buying an additional 560,000 shares during the last quarter. Gabelli Funds LLC grew its stake in Orla Mining by 67.2% during the 4th quarter. Gabelli Funds LLC now owns 1,882,700 shares of the company’s stock worth $25,360,000 after buying an additional 756,900 shares during the last quarter. U S Global Investors Inc. acquired a new stake in Orla Mining in the first quarter worth $3,966,000. Finally, Cibc World Market Inc. acquired a new stake in Orla Mining in the second quarter worth $7,080,000. 43.04% of the stock is currently owned by institutional investors and hedge funds.

Orla Mining Company Profile

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.