CIBC Asset Management Inc Lowers Position in Orla Mining Ltd. (NYSEAMERICAN:ORLA)

CIBC Asset Management Inc trimmed its holdings in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) by 1.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 288,612 shares of the company’s stock after selling 4,656 shares during the quarter. CIBC Asset Management Inc’s holdings in Orla Mining were worth $1,161,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. CWA Asset Management Group LLC bought a new position in Orla Mining in the third quarter valued at $5,927,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Orla Mining during the 2nd quarter valued at about $1,151,000. Goehring & Rozencwajg Associates LLC lifted its position in Orla Mining by 16.3% in the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 1,295,214 shares of the company’s stock worth $4,969,000 after buying an additional 181,900 shares during the last quarter. U S Global Investors Inc. boosted its stake in Orla Mining by 20.7% in the second quarter. U S Global Investors Inc. now owns 301,660 shares of the company’s stock worth $1,282,000 after buying an additional 51,660 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Orla Mining by 92.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,883 shares of the company’s stock valued at $218,000 after acquiring an additional 27,315 shares during the last quarter. 43.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ORLA. Desjardins raised shares of Orla Mining to a “moderate buy” rating in a research note on Thursday, October 31st. Scotiabank raised their price objective on Orla Mining from $5.75 to $6.00 and gave the company a “sector perform” rating in a research note on Friday, October 11th.

Orla Mining Price Performance

Shares of Orla Mining stock opened at $4.35 on Thursday. Orla Mining Ltd. has a 12 month low of $2.60 and a 12 month high of $5.16. The company has a quick ratio of 3.95, a current ratio of 4.54 and a debt-to-equity ratio of 0.12. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of -434.57 and a beta of 0.79.

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.