PCJ Investment Counsel Ltd. Acquires 119,620 Shares of Orla Mining Ltd. $ORLA

PCJ Investment Counsel Ltd. increased its stake in Orla Mining Ltd. (NYSEAMERICAN:ORLA) by 81.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 266,250 shares of the company’s stock after purchasing an additional 119,620 shares during the period. PCJ Investment Counsel Ltd.’s holdings in Orla Mining were worth $2,676,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ORLA. Hollencrest Capital Management bought a new stake in Orla Mining during the first quarter valued at approximately $187,000. TD Asset Management Inc raised its position in shares of Orla Mining by 15.7% during the 1st quarter. TD Asset Management Inc now owns 2,780,946 shares of the company’s stock valued at $25,969,000 after buying an additional 378,015 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Orla Mining during the 1st quarter worth $86,000. Baader Bank Aktiengesellschaft bought a new stake in shares of Orla Mining during the 1st quarter worth $380,000. Finally, Deutsche Bank AG grew its position in Orla Mining by 14.0% in the first quarter. Deutsche Bank AG now owns 29,021 shares of the company’s stock worth $271,000 after acquiring an additional 3,575 shares in the last quarter. 43.04% of the stock is owned by hedge funds and other institutional investors.

Orla Mining Price Performance

ORLA opened at $9.93 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.66. The stock’s 50 day simple moving average is $11.07 and its 200 day simple moving average is $10.70. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of 198.64 and a beta of 0.33. Orla Mining Ltd. has a 1 year low of $3.81 and a 1 year high of $13.91.

Analyst Upgrades and Downgrades

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

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.