Northwest & Ethical Investments L.P. Buys Shares of 83,353 Orla Mining Ltd. (NYSEAMERICAN:ORLA)

Northwest & Ethical Investments L.P. bought a new position in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 83,353 shares of the company's stock, valued at approximately $461,000.

A number of other large investors have also recently made changes to their positions in ORLA. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Orla Mining in the fourth quarter valued at $9,668,000. Intact Investment Management Inc. purchased a new position in shares of Orla Mining during the fourth quarter worth about $3,186,000. D.A. Davidson & CO. acquired a new position in Orla Mining in the 3rd quarter valued at about $1,539,000. CWA Asset Management Group LLC raised its stake in Orla Mining by 20.6% during the 4th quarter. CWA Asset Management Group LLC now owns 1,786,415 shares of the company's stock valued at $9,897,000 after acquiring an additional 304,748 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Orla Mining by 262.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 284,408 shares of the company's stock worth $1,138,000 after acquiring an additional 205,911 shares during the period. 43.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ORLA has been the topic of a number of analyst reports. Stifel Canada raised Orla Mining to a "strong-buy" rating in a report on Wednesday, March 19th. TD Securities upgraded Orla Mining to a "hold" rating in a research note on Tuesday, February 4th. Scotiabank upgraded Orla Mining from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, November 27th. Finally, TD Cowen started coverage on shares of Orla Mining in a research report on Tuesday, February 4th. They set a "hold" rating on the stock. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Orla Mining has an average rating of "Buy" and an average price target of $6.13.

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Orla Mining Price Performance

Orla Mining stock traded down $0.05 during midday trading on Wednesday, hitting $9.09. 1,363,361 shares of the stock were exchanged, compared to its average volume of 543,386. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.95 and a current ratio of 4.54. The company has a 50 day simple moving average of $6.97. The stock has a market cap of $2.93 billion, a price-to-earnings ratio of -908.09 and a beta of 0.71. Orla Mining Ltd. has a 1 year low of $3.24 and a 1 year high of $9.62.

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.