Bank of Montreal Can Sells 378,025 Shares of Orla Mining Ltd. $ORLA

Bank of Montreal Can lessened its position in Orla Mining Ltd. (NYSEAMERICAN:ORLA) by 16.8% in the 2nd quarter, Holdings Channel reports. The firm owned 1,878,467 shares of the company’s stock after selling 378,025 shares during the period. Bank of Montreal Can’s holdings in Orla Mining were worth $18,883,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Orla Mining by 119.8% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,843,000 shares of the company’s stock valued at $35,898,000 after buying an additional 2,094,800 shares during the period. Amundi lifted its holdings in Orla Mining by 49.9% during the first quarter. Amundi now owns 3,711,381 shares of the company’s stock worth $35,147,000 after acquiring an additional 1,235,692 shares in the last quarter. TD Asset Management Inc grew its stake in Orla Mining by 15.7% in the first quarter. TD Asset Management Inc now owns 2,780,946 shares of the company’s stock valued at $25,969,000 after acquiring an additional 378,015 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Orla Mining by 14.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,061,455 shares of the company’s stock worth $9,925,000 after acquiring an additional 131,577 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Orla Mining by 20.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 607,000 shares of the company’s stock worth $6,102,000 after purchasing an additional 103,000 shares during the period. 43.04% of the stock is owned by institutional investors.

Analyst Ratings Changes

ORLA has been the subject of several research analyst reports. CIBC reiterated an “outperform” rating on shares of Orla Mining in a research report on Monday, October 20th. Scotiabank restated an “outperform” rating on shares of Orla Mining in a report on Thursday, October 23rd. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Orla Mining in a report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $27.00.

Orla Mining Stock Up 3.9%

NYSEAMERICAN:ORLA opened at $9.93 on Friday. The stock has a 50-day simple moving average of $11.07 and a 200 day simple moving average of $10.70. Orla Mining Ltd. has a 52-week low of $3.81 and a 52-week high of $13.91. The company has a market cap of $3.35 billion, a PE ratio of 198.64 and a beta of 0.33. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.66 and a current ratio of 0.85.

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.