Connor Clark & Lunn Investment Management Ltd. Makes New $9.67 Million Investment in Orla Mining Ltd. (NYSEAMERICAN:ORLA)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Orla Mining Ltd. (NYSEAMERICAN:ORLA) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,748,200 shares of the company’s stock, valued at approximately $9,668,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.54% of Orla Mining as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Net Worth Advisory Group bought a new position in Orla Mining in the fourth quarter worth approximately $241,000. Amundi boosted its holdings in Orla Mining by 6.7% in the fourth quarter. Amundi now owns 2,475,689 shares of the company’s stock worth $14,483,000 after acquiring an additional 155,200 shares in the last quarter. Raymond James Financial Inc. bought a new position in Orla Mining in the fourth quarter worth approximately $173,000. Aigen Investment Management LP bought a new position in Orla Mining in the fourth quarter worth approximately $129,000. Finally, U S Global Investors Inc. purchased a new stake in shares of Orla Mining in the fourth quarter worth approximately $1,063,000. Institutional investors own 43.04% of the company’s stock.

Orla Mining Trading Up 5.1 %

Shares of NYSEAMERICAN ORLA opened at $8.71 on Friday. The firm’s fifty day moving average price is $6.48. Orla Mining Ltd. has a 1-year low of $3.24 and a 1-year high of $8.78. The company has a market capitalization of $2.81 billion, a price-to-earnings ratio of -870.13 and a beta of 0.71. The company has a current ratio of 4.54, a quick ratio of 3.95 and a debt-to-equity ratio of 0.12.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ORLA shares. TD Cowen started coverage on Orla Mining in a research note on Tuesday, February 4th. They issued a “hold” rating for the company. TD Securities raised Orla Mining to a “hold” rating in a research note on Tuesday, February 4th. Finally, Scotiabank raised Orla Mining from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 27th. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $6.13.

Orla Mining Company 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.