Franklin Resources Inc. Sells 172,000 Shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA)

Franklin Resources Inc. decreased its position in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA - Free Report) by 2.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,547,112 shares of the company's stock after selling 172,000 shares during the period. Franklin Resources Inc. owned approximately 2.35% of Orla Mining worth $30,188,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ORLA. The Manufacturers Life Insurance Company boosted its holdings in Orla Mining by 2.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 177,136 shares of the company's stock valued at $679,000 after acquiring an additional 4,827 shares during the period. International Assets Investment Management LLC bought a new stake in Orla Mining in the third quarter valued at approximately $43,000. Kitching Partners LLC purchased a new stake in shares of Orla Mining during the third quarter valued at approximately $48,000. Geode Capital Management LLC grew its holdings in shares of Orla Mining by 11.9% in the third quarter. Geode Capital Management LLC now owns 114,628 shares of the company's stock worth $463,000 after purchasing an additional 12,159 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in shares of Orla Mining by 7.8% in the third quarter. Jane Street Group LLC now owns 212,002 shares of the company's stock worth $853,000 after buying an additional 15,404 shares during the period. Institutional investors own 43.04% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ORLA shares. Desjardins upgraded Orla Mining to a "moderate buy" rating in a report on Thursday, October 31st. Scotiabank raised Orla Mining from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, November 27th.

Orla Mining Trading Up 2.9 %

Orla Mining stock traded up $0.16 during mid-day trading on Thursday, hitting $5.60. The company had a trading volume of 930,517 shares, compared to its average volume of 452,763. Orla Mining Ltd. has a 12 month low of $3.02 and a 12 month high of $5.80. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of -559.44 and a beta of 0.75. The company has a current ratio of 4.54, a quick ratio of 3.95 and a debt-to-equity ratio of 0.12.

About Orla Mining

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.