Quantbot Technologies LP Takes Position in Orla Mining Ltd. $ORLA

Quantbot Technologies LP purchased a new stake in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 53,775 shares of the company’s stock, valued at approximately $526,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Van ECK Associates Corp lifted its stake in shares of Orla Mining by 279.9% in the 4th quarter. Van ECK Associates Corp now owns 19,391,604 shares of the company’s stock valued at $261,201,000 after acquiring an additional 14,287,477 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Orla Mining by 992.0% during the third quarter. Millennium Management LLC now owns 9,066,678 shares of the company’s stock worth $97,814,000 after purchasing an additional 8,236,385 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Orla Mining by 152.1% during the fourth quarter. Vanguard Group Inc. now owns 8,202,861 shares of the company’s stock worth $110,320,000 after purchasing an additional 4,948,805 shares during the last quarter. Invesco Ltd. increased its stake in shares of Orla Mining by 994.7% in the fourth quarter. Invesco Ltd. now owns 3,539,392 shares of the company’s stock valued at $47,676,000 after buying an additional 3,216,068 shares during the period. Finally, Norges Bank acquired a new position in shares of Orla Mining in the fourth quarter valued at approximately $34,756,000. 43.04% of the stock is currently owned by institutional investors and hedge funds.

Orla Mining Price Performance

Orla Mining stock opened at $9.44 on Friday. The firm has a market cap of $3.27 billion, a price-to-earnings ratio of 13.88 and a beta of 0.28. Orla Mining Ltd. has a 52-week low of $8.43 and a 52-week high of $21.98. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.88 and a current ratio of 1.06. The firm has a 50 day moving average price of $9.49 and a two-hundred day moving average price of $13.18.

Wall Street Analyst Weigh In

ORLA has been the subject of a number of research reports. TD Cowen upgraded shares of Orla Mining from a “hold” rating to a “buy” rating in a 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. Finally, Zacks Research downgraded Orla Mining from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Orla Mining has an average rating of “Buy” and an average price target 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.