The Manufacturers Life Insurance Company Sells 170,694 Shares of Orla Mining Ltd. $ORLA

The Manufacturers Life Insurance Company decreased its holdings in Orla Mining Ltd. (NYSEAMERICAN:ORLA) by 32.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 350,899 shares of the company’s stock after selling 170,694 shares during the quarter. The Manufacturers Life Insurance Company owned 0.10% of Orla Mining worth $5,638,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ORLA. Themes Management Co LLC lifted its position in Orla Mining by 22.2% during the first quarter. Themes Management Co LLC now owns 55,953 shares of the company’s stock valued at $900,000 after purchasing an additional 10,155 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Orla Mining in the 1st quarter worth $1,155,000. Renaissance Technologies LLC lifted its position in shares of Orla Mining by 32.1% in the first quarter. Renaissance Technologies LLC now owns 1,376,799 shares of the company’s stock worth $22,208,000 after buying an additional 334,600 shares in the last quarter. Gamco Investors INC. ET AL boosted its position in shares of Orla Mining by 41.5% during the 1st quarter. Gamco Investors INC. ET AL now owns 117,380 shares of the company’s stock valued at $1,893,000 after acquiring an additional 34,435 shares during the last quarter. Finally, State of Wyoming lifted its position in Orla Mining by 296.6% during the first quarter. State of Wyoming now owns 25,411 shares of the company’s stock valued at $410,000 after purchasing an additional 19,004 shares during the last quarter. 43.04% of the stock is owned by hedge funds and other institutional investors.

Orla Mining Price Performance

ORLA opened at $9.44 on Thursday. Orla Mining Ltd. has a one year low of $8.43 and a one year high of $21.98. The stock’s fifty day moving average is $10.07 and its 200-day moving average is $13.98. The company has a market capitalization of $3.27 billion, a PE ratio of 13.88 and a beta of 0.28. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.88 and a current ratio of 1.06.

Orla Mining Announces Dividend

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

Analyst Ratings Changes

ORLA has been the topic of several recent research reports. Zacks Research lowered Orla Mining from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. TD Securities upgraded shares of Orla Mining from a “hold” rating to a “buy” rating in a report on Wednesday, May 20th. Finally, TD Cowen upgraded shares of Orla Mining from a “hold” rating to a “buy” rating in a report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $27.00.

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.