Ninepoint Partners LP Makes New Investment in Orla Mining Ltd. $ORLA

Ninepoint Partners LP acquired a new stake in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 175,000 shares of the company’s stock, valued at approximately $1,890,000.

Several other hedge funds have also modified their holdings of ORLA. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Orla Mining by 33.7% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,139,774 shares of the company’s stock valued at $51,667,000 after purchasing an additional 1,296,774 shares during the period. TD Asset Management Inc grew its stake in shares of Orla Mining by 30.3% during 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. Vanguard Group Inc. increased its holdings in shares of Orla Mining by 1,628.2% during the 3rd quarter. Vanguard Group Inc. now owns 3,254,056 shares of the company’s stock worth $35,095,000 after buying an additional 3,065,761 shares during the last quarter. CWA Asset Management Group LLC raised its position in shares of Orla Mining by 22.9% in the 3rd quarter. CWA Asset Management Group LLC now owns 3,126,430 shares of the company’s stock worth $33,765,000 after buying an additional 582,789 shares during the period. Finally, Jupiter Asset Management Ltd. boosted its holdings in Orla Mining by 25,866.2% in the third quarter. Jupiter Asset Management Ltd. now owns 2,791,369 shares of the company’s stock valued at $30,112,000 after acquiring an additional 2,780,619 shares during the last quarter. 43.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ORLA has been the subject of a number of research reports. BMO Capital Markets reissued an “outperform” rating on shares of Orla Mining in a research report on Monday, January 26th. Scotiabank reiterated an “outperform” rating on shares of Orla Mining in a report on Monday, January 26th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Orla Mining in a research report on Wednesday, February 4th. Zacks Research upgraded shares of Orla Mining from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. Finally, National Bank Financial assumed coverage on shares of Orla Mining in a research note on Monday, January 12th. They set an “outperform” rating for the company. Three analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. Based on data from MarketBeat.com, Orla Mining has an average rating of “Buy” and an average price target of $27.00.

Orla Mining Trading Up 4.3%

ORLA opened at $21.62 on Friday. The firm’s 50 day moving average is $16.19 and its 200-day moving average is $13.13. Orla Mining Ltd. has a 52-week low of $6.75 and a 52-week high of $21.74. The company has a quick ratio of 0.88, a current ratio of 1.07 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $7.45 billion, a P/E ratio of 166.32 and a beta of 0.30.

Orla Mining Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 10th. Shareholders of record on Monday, January 12th were issued a $0.015 dividend. The ex-dividend date was Monday, January 12th. This represents a $0.06 dividend on an annualized basis and a yield of 0.3%. Orla Mining’s payout ratio is currently -599.40%.

About Orla Mining

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.