Franklin Resources Inc. Trims Stock Holdings in Orla Mining Ltd. (NYSEAMERICAN:ORLA)

Franklin Resources Inc. decreased its holdings in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) by 2.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,547,112 shares of the company’s stock after selling 172,000 shares during the quarter. Franklin Resources Inc. owned about 2.35% of Orla Mining worth $30,188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ORLA. Goehring & Rozencwajg Associates LLC grew its stake in Orla Mining by 16.3% during the second quarter. Goehring & Rozencwajg Associates LLC now owns 1,295,214 shares of the company’s stock valued at $4,969,000 after acquiring an additional 181,900 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Orla Mining by 67.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 296,097 shares of the company’s stock valued at $1,192,000 after purchasing an additional 118,961 shares in the last quarter. CWA Asset Management Group LLC purchased a new stake in shares of Orla Mining in the third quarter worth $5,927,000. Allspring Global Investments Holdings LLC boosted its stake in Orla Mining by 50.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 450,000 shares of the company’s stock valued at $1,812,000 after buying an additional 150,000 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in Orla Mining during the third quarter worth about $43,000. Hedge funds and other institutional investors own 43.04% of the company’s stock.

Orla Mining Stock Performance

Shares of NYSEAMERICAN:ORLA opened at $5.44 on Thursday. The stock has a market cap of $1.75 billion, a P/E ratio of -543.46 and a beta of 0.75. 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 1 year low of $3.02 and a 1 year high of $5.80.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ORLA. Scotiabank upgraded Orla Mining from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 27th. Desjardins raised Orla Mining to a “moderate buy” rating in a research note on Thursday, October 31st.

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.