Intact Investment Management Inc. Invests $3.19 Million in Orla Mining Ltd. (NYSEAMERICAN:ORLA)

Intact Investment Management Inc. acquired 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 & Exchange Commission. The firm acquired 575,489 shares of the company's stock, valued at approximately $3,186,000. Intact Investment Management Inc. owned approximately 0.18% of Orla Mining as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its position in Orla Mining by 0.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 452,000 shares of the company's stock valued at $2,500,000 after purchasing an additional 2,000 shares during the period. D.A. Davidson & CO. raised its holdings in shares of Orla Mining by 2.0% in the 4th quarter. D.A. Davidson & CO. now owns 392,364 shares of the company's stock valued at $2,174,000 after buying an additional 7,667 shares during the period. Kitching Partners LLC purchased a new stake in shares of Orla Mining in the 3rd quarter valued at $48,000. Geode Capital Management LLC grew its stake in Orla Mining by 11.9% during the 3rd 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 in the last quarter. Finally, Stratos Wealth Advisors LLC grew its stake in Orla Mining by 39.4% during the 4th quarter. Stratos Wealth Advisors LLC now owns 50,185 shares of the company's stock worth $278,000 after purchasing an additional 14,185 shares in the last quarter. Hedge funds and other institutional investors own 43.04% of the company's stock.

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Wall Street Analysts Forecast Growth

ORLA has been the subject of several analyst reports. TD Securities raised Orla Mining to a "hold" rating in a research note on Tuesday, February 4th. Scotiabank raised Orla Mining from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, November 27th. Finally, TD Cowen initiated coverage on Orla Mining in a research note on Tuesday, February 4th. They set a "hold" rating for the company. Two equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $6.13.

Orla Mining Stock Performance

Shares of NYSEAMERICAN:ORLA traded down $0.15 on Wednesday, hitting $8.97. 1,850,247 shares of the company's stock were exchanged, compared to its average volume of 511,575. The stock's 50-day moving average is $6.63. The stock has a market capitalization of $2.89 billion, a P/E ratio of -896.10 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. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.54 and a quick ratio of 3.95.

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.