Orla Mining Ltd. $ORLA Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. grew its position in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) by 1.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 7,686,849 shares of the company’s stock after acquiring an additional 74,925 shares during the period. Franklin Resources Inc.’s holdings in Orla Mining were worth $103,386,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL acquired a new stake in Orla Mining during the third quarter worth about $776,000. Gabelli Funds LLC increased its stake in Orla Mining by 9.7% during the third quarter. Gabelli Funds LLC now owns 1,125,800 shares of the company’s stock worth $12,159,000 after acquiring an additional 100,000 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Orla Mining during the third quarter worth about $976,000. Forge First Asset Management Inc. acquired a new stake in Orla Mining during the third quarter worth about $1,079,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Orla Mining by 41.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,251,539 shares of the company’s stock worth $78,194,000 after acquiring an additional 2,111,765 shares during the last quarter. 43.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ORLA has been the subject of several analyst reports. TD Cowen raised Orla Mining from a “hold” rating to a “buy” rating in a research report on Wednesday, May 20th. TD Securities raised Orla Mining from a “hold” rating to a “buy” rating in a research report on Wednesday, May 20th. Zacks Research raised Orla Mining from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. Finally, ATB Cormark Capital Markets raised Orla Mining from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 23rd. Two investment analysts have rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $27.00.

Orla Mining Price Performance

Shares of NYSEAMERICAN ORLA opened at $9.78 on Thursday. Orla Mining Ltd. has a 1-year low of $9.16 and a 1-year high of $21.98. The business has a 50-day moving average of $14.22 and a 200-day moving average of $15.10. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.88. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of 14.38 and a beta of 0.21.

Orla Mining Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 26th were given a $0.015 dividend. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $0.06 annualized dividend and a dividend yield of 0.6%. Orla Mining’s dividend payout ratio is presently -599.40%.

Orla Mining 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.