The Manufacturers Life Insurance Company Acquires 118,961 Shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA)

The Manufacturers Life Insurance Company increased its stake in Orla Mining Ltd. (NYSEAMERICAN:ORLA) by 67.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 296,097 shares of the company’s stock after purchasing an additional 118,961 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Orla Mining were worth $1,192,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in Orla Mining in the 3rd quarter valued at about $43,000. American Century Companies Inc. grew its position in shares of Orla Mining by 4.3% during the 2nd quarter. American Century Companies Inc. now owns 412,400 shares of the company’s stock valued at $1,583,000 after acquiring an additional 17,100 shares during the period. CIBC Asset Management Inc grew its position in shares of Orla Mining by 7.9% during the 2nd quarter. CIBC Asset Management Inc now owns 293,268 shares of the company’s stock valued at $1,125,000 after acquiring an additional 21,576 shares during the period. Toronto Dominion Bank raised its holdings in shares of Orla Mining by 536.1% in the 2nd quarter. Toronto Dominion Bank now owns 27,563 shares of the company’s stock worth $106,000 after purchasing an additional 23,230 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in Orla Mining in the second quarter valued at approximately $102,000. Institutional investors and hedge funds own 43.04% of the company’s stock.

Orla Mining Price Performance

ORLA stock opened at $5.64 on Thursday. The company has a market cap of $1.81 billion, a price-to-earnings ratio of -562.94 and a beta of 0.76. The company has a current ratio of 4.54, a quick ratio of 3.95 and a debt-to-equity ratio of 0.12. Orla Mining Ltd. has a one year low of $2.60 and a one year high of $5.80.

Analyst Ratings Changes

Several brokerages recently weighed in on ORLA. Desjardins raised Orla Mining to a “moderate buy” rating in a report on Thursday, October 31st. Scotiabank raised shares of Orla Mining from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 27th.

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.