Parvin Asset Management LLC Purchases 41,900 Shares of Orla Mining Ltd. $ORLA

Parvin Asset Management LLC raised its holdings in Orla Mining Ltd. (NYSEAMERICAN:ORLA) by 159.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 68,200 shares of the company’s stock after buying an additional 41,900 shares during the quarter. Parvin Asset Management LLC’s holdings in Orla Mining were worth $683,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. grew its position in Orla Mining by 33.7% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,139,774 shares of the company’s stock worth $51,667,000 after purchasing an additional 1,296,774 shares during the last quarter. Amundi lifted its stake in shares of Orla Mining by 49.9% in the first quarter. Amundi now owns 3,711,381 shares of the company’s stock valued at $35,147,000 after buying an additional 1,235,692 shares during the period. Fiera Capital Corp acquired a new stake in Orla Mining during the second quarter worth about $6,594,000. Invesco Ltd. acquired a new stake in Orla Mining during the second quarter worth about $5,892,000. Finally, Groupama Asset Managment bought a new position in Orla Mining during the second quarter valued at about $5,607,000. 43.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ORLA. Scotiabank reissued an “outperform” rating on shares of Orla Mining in a report on Thursday, October 23rd. CIBC reaffirmed an “outperform” rating on shares of Orla Mining in a report on Monday, October 20th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Orla Mining in a research report on Tuesday, October 21st. One 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, Orla Mining currently has a consensus rating of “Moderate Buy” and an average price target of $27.00.

Orla Mining Stock Up 3.6%

Shares of ORLA opened at $13.12 on Friday. The company has a market capitalization of $4.46 billion, a P/E ratio of 100.93 and a beta of 0.30. Orla Mining Ltd. has a one year low of $5.25 and a one year high of $14.36. The business’s 50 day simple moving average is $11.77 and its 200-day simple moving average is $11.08. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.07 and a quick ratio of 0.88.

Orla Mining Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 10th. Shareholders of record on Monday, January 12th will be issued a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Monday, January 12th.

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.