Orla Mining Ltd. $ORLA Shares Sold by Sprott Inc.

Sprott Inc. reduced its stake in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) by 83.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,023 shares of the company’s stock after selling 232,453 shares during the quarter. Sprott Inc.’s holdings in Orla Mining were worth $486,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. grew its position in Orla Mining by 50.0% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 5,368 shares of the company’s stock worth $53,000 after purchasing an additional 1,789 shares during the last quarter. Farther Finance Advisors LLC acquired a new position in shares of Orla Mining during the third quarter worth approximately $58,000. Osaic Holdings Inc. grew its holdings in Orla Mining by 82.2% in the 2nd quarter. Osaic Holdings Inc. now owns 10,161 shares of the company’s stock worth $102,000 after buying an additional 4,584 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new stake in Orla Mining in the 2nd quarter valued at approximately $108,000. Finally, State of Wyoming bought a new stake in Orla Mining during the 2nd quarter valued at $109,000. 43.04% of the stock is currently owned by institutional investors.

Orla Mining Stock Down 7.5%

Shares of NYSEAMERICAN:ORLA opened at $20.08 on Wednesday. The firm has a fifty day moving average price of $16.44 and a two-hundred day moving average price of $13.33. The company has a market cap of $6.92 billion, a price-to-earnings ratio of 154.47 and a beta of 0.23. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.07 and a quick ratio of 0.88. Orla Mining Ltd. has a one year low of $6.85 and a one year high of $21.98.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Scotiabank reissued an “outperform” rating on shares of Orla Mining in a research note on Monday, January 26th. ATB Cormark Capital Markets upgraded shares of Orla Mining from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 23rd. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Orla Mining in a research note on Wednesday, February 4th. National Bank Financial initiated coverage on shares of Orla Mining in a research note on Monday, January 12th. They issued an “outperform” rating for the company. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Orla Mining in a report on Monday, January 26th. Three equities research analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. According to MarketBeat.com, Orla Mining has an average rating of “Buy” and an average target price of $27.00.

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.