Orla Mining Ltd. $ORLA Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. increased its stake in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) by 152.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,202,861 shares of the company’s stock after purchasing an additional 4,948,805 shares during the quarter. Vanguard Group Inc.’s holdings in Orla Mining were worth $110,320,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ORLA. Millennium Management LLC boosted its stake in shares of Orla Mining by 992.0% in the 3rd quarter. Millennium Management LLC now owns 9,066,678 shares of the company’s stock valued at $97,814,000 after buying an additional 8,236,385 shares during the period. Franklin Resources Inc. boosted its stake in shares of Orla Mining by 18.3% in the 3rd quarter. Franklin Resources Inc. now owns 7,611,924 shares of the company’s stock valued at $82,079,000 after buying an additional 1,178,690 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Orla Mining by 41.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,251,539 shares of the company’s stock valued at $78,194,000 after buying an additional 2,111,765 shares during the period. Amundi boosted its stake in shares of Orla Mining by 35.5% in the 3rd quarter. Amundi now owns 4,721,047 shares of the company’s stock valued at $54,481,000 after buying an additional 1,237,832 shares during the period. Finally, TD Asset Management Inc boosted its stake in shares of Orla Mining by 30.3% in the 3rd quarter. TD Asset Management Inc now owns 3,540,711 shares of the company’s stock valued at $38,196,000 after buying an additional 823,331 shares during the period. Institutional investors and hedge funds own 43.04% of the company’s stock.

Analyst Ratings Changes

ORLA has been the topic of several research analyst reports. Scotiabank reissued an “outperform” rating on shares of Orla Mining in a research report on Monday, January 26th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Orla Mining in a research report on Monday, January 26th. Zacks Research lowered Orla Mining from a “strong-buy” rating to a “hold” rating in a report on Monday, March 23rd. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Orla Mining in a report on Wednesday, February 4th. Finally, ATB Cormark Capital Markets raised Orla Mining from a “hold” rating to a “moderate buy” rating in a report on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $27.00.

Orla Mining Stock Down 2.3%

ORLA opened at $14.47 on Wednesday. The business’s fifty day moving average is $16.02 and its two-hundred day moving average is $14.91. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.92 and a current ratio of 1.08. The company has a market cap of $5.01 billion, a price-to-earnings ratio of 21.28 and a beta of 0.20. Orla Mining Ltd. has a one year low of $8.50 and a one year high of $21.98.

Orla Mining Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 26th will be paid a dividend of $0.015 per share. The ex-dividend date is Tuesday, May 26th. This represents a $0.06 annualized dividend and a yield of 0.4%. Orla Mining’s dividend payout ratio is currently -599.40%.

Orla Mining Company Profile

Orla Mining is a Canada-based mineral exploration and development company focused on advancing gold and silver projects in the Americas. Its flagship asset is the Cerro Quema oxide gold-silver project in Panama, where the company holds approximately 13,000 hectares of mineral concessions. Through feasibility studies and pilot plant testing, Orla has demonstrated the potential of heap leach processing at Cerro Quema, positioning the asset for transition into construction and production phases.

In addition to Cerro Quema, Orla Mining expanded its portfolio in early 2023 with the acquisition of the Gold Springs project located along the Utah–Nevada border in the United States.