Hillsdale Investment Management Inc. Purchases New Position in Orla Mining Ltd. (NYSEAMERICAN:ORLA)

Hillsdale Investment Management Inc. acquired a new position in Orla Mining Ltd. (NYSEAMERICAN:ORLA - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,159,377 shares of the company's stock, valued at approximately $11,944,000. Orla Mining accounts for approximately 0.6% of Hillsdale Investment Management Inc.'s investment portfolio, making the stock its 29th largest position. Hillsdale Investment Management Inc. owned 0.67% of Orla Mining as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Orla Mining during the fourth quarter valued at approximately $9,668,000. Intact Investment Management Inc. acquired a new position in shares of Orla Mining in the 4th quarter worth approximately $3,186,000. D.A. Davidson & CO. bought a new position in Orla Mining in the 3rd quarter valued at $1,539,000. CWA Asset Management Group LLC boosted its stake in Orla Mining by 20.6% in the fourth quarter. CWA Asset Management Group LLC now owns 1,786,415 shares of the company's stock worth $9,897,000 after purchasing an additional 304,748 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Orla Mining by 262.3% in the third quarter. JPMorgan Chase & Co. now owns 284,408 shares of the company's stock valued at $1,138,000 after buying an additional 205,911 shares in the last quarter. Institutional investors own 43.04% of the company's stock.

Orla Mining Price Performance

NYSEAMERICAN:ORLA traded down $0.05 during trading hours on Wednesday, reaching $9.09. 1,363,361 shares of the company were exchanged, compared to its average volume of 544,171. The firm has a market capitalization of $2.93 billion, a P/E ratio of -908.09 and a beta of 0.71. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.54 and a quick ratio of 3.95. The firm has a 50 day moving average of $7.03. Orla Mining Ltd. has a 1-year low of $3.24 and a 1-year high of $9.62.

Remove Ads

Analyst Ratings Changes

Several research analysts have recently issued reports on ORLA shares. TD Cowen initiated coverage on Orla Mining in a research report on Tuesday, February 4th. They issued a "hold" rating on the stock. Scotiabank raised shares of Orla Mining from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, November 27th. TD Securities raised Orla Mining to a "hold" rating in a research note on Tuesday, February 4th. Finally, Stifel Canada upgraded Orla Mining to a "strong-buy" rating in a research report on Wednesday, March 19th. Two analysts have rated the stock with a hold rating, one has given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $6.13.

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.