Geode Capital Management LLC Boosts Stake in Orla Mining Ltd. (NYSEAMERICAN:ORLA)

Geode Capital Management LLC raised its stake in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) by 1.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,293 shares of the company’s stock after purchasing an additional 1,665 shares during the period. Geode Capital Management LLC’s holdings in Orla Mining were worth $650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the stock. CWA Asset Management Group LLC lifted its holdings in shares of Orla Mining by 20.6% during 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 during the last quarter. Raymond James Financial Inc. purchased a new stake in Orla Mining in the 4th quarter worth $173,000. Barclays PLC boosted its stake in shares of Orla Mining by 86.5% in the third quarter. Barclays PLC now owns 47,177 shares of the company’s stock worth $189,000 after acquiring an additional 21,877 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Orla Mining by 262.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 284,408 shares of the company’s stock valued at $1,138,000 after acquiring an additional 205,911 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Orla Mining by 0.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 452,000 shares of the company’s stock worth $2,500,000 after buying an additional 2,000 shares during the last quarter. 43.04% of the stock is currently owned by institutional investors.

Orla Mining Trading Down 5.7 %

Shares of Orla Mining stock opened at $10.37 on Friday. 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 Ltd. has a 1 year low of $3.24 and a 1 year high of $11.95. The business has a 50 day moving average price of $9.16 and a 200 day moving average price of $6.43. The company has a market capitalization of $3.34 billion, a P/E ratio of -1,035.96 and a beta of 0.71.

Analysts Set New Price Targets

ORLA has been the subject of a number of research analyst reports. TD Securities upgraded Orla Mining to a “hold” rating in a report on Tuesday, February 4th. Stifel Canada raised Orla Mining to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, TD Cowen started coverage on Orla Mining in a research note on Tuesday, February 4th. They set a “hold” rating for the company. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Orla Mining currently has an average rating of “Buy” and an average price target of $6.13.

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.