Franklin Resources Inc. Acquires 31,700 Shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA)

Franklin Resources Inc. increased its stake in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA - Free Report) by 0.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 7,578,812 shares of the company's stock after acquiring an additional 31,700 shares during the period. Franklin Resources Inc. owned approximately 2.36% of Orla Mining worth $41,914,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Hillsdale Investment Management Inc. purchased a new position in shares of Orla Mining during the 4th quarter valued at approximately $11,944,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Orla Mining in the 4th quarter worth about $9,668,000. Intact Investment Management Inc. bought a new stake in shares of Orla Mining in the 4th quarter worth about $3,186,000. CWA Asset Management Group LLC raised its stake in shares of Orla Mining by 20.6% in 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 purchasing an additional 304,748 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Orla Mining by 262.3% during the third quarter. JPMorgan Chase & Co. now owns 284,408 shares of the company's stock worth $1,138,000 after purchasing an additional 205,911 shares during the last quarter. Hedge funds and other institutional investors own 43.04% of the company's stock.

Orla Mining Stock Performance

Shares of ORLA traded up $0.59 on Thursday, reaching $9.87. 727,622 shares of the stock traded hands, compared to its average volume of 588,229. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of -990.41 and a beta of 0.71. Orla Mining Ltd. has a 12 month low of $3.24 and a 12 month high of $9.95. The stock's 50-day moving average price is $7.79 and its 200-day moving average price is $5.86. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.54 and a quick ratio of 3.95.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ORLA. TD Cowen initiated coverage on shares of Orla Mining in a research note on Tuesday, February 4th. They set a "hold" rating for the company. TD Securities raised shares of Orla Mining to a "hold" rating in a report on Tuesday, February 4th. Finally, Stifel Canada raised Orla Mining to a "strong-buy" rating in a report on Wednesday, March 19th. Two equities research 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 stock currently has an average rating of "Buy" and an average 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.