K.J. Harrison & Partners Inc Takes Position in Orla Mining Ltd. $ORLA

K.J. Harrison & Partners Inc bought a new stake in Orla Mining Ltd. (NYSEAMERICAN:ORLA) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 60,000 shares of the company’s stock, valued at approximately $963,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC acquired a new stake in Orla Mining during the 3rd quarter worth about $27,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Orla Mining in the fourth quarter valued at about $29,000. SBI Securities Co. Ltd. increased its holdings in shares of Orla Mining by 67.9% in the fourth quarter. SBI Securities Co. Ltd. now owns 4,672 shares of the company’s stock valued at $63,000 after purchasing an additional 1,889 shares during the period. TD Waterhouse Canada Inc. increased its holdings in shares of Orla Mining by 197.0% in the fourth quarter. TD Waterhouse Canada Inc. now owns 5,313 shares of the company’s stock valued at $71,000 after purchasing an additional 3,524 shares during the period. Finally, Osaic Holdings Inc. raised its stake in shares of Orla Mining by 82.2% in the second quarter. Osaic Holdings Inc. now owns 10,161 shares of the company’s stock worth $102,000 after purchasing an additional 4,584 shares during the last quarter. Hedge funds and other institutional investors own 43.04% of the company’s stock.

Orla Mining Price Performance

Shares of ORLA stock opened at $10.18 on Friday. Orla Mining Ltd. has a twelve month low of $9.16 and a twelve month high of $21.98. The stock has a market cap of $3.52 billion, a P/E ratio of 14.97 and a beta of 0.28. The stock has a 50 day moving average of $11.98 and a 200 day moving average of $14.75. The company has a current ratio of 1.06, a quick ratio of 0.88 and a debt-to-equity ratio of 0.39.

Orla Mining Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, May 26th were issued a dividend of $0.015 per share. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $0.06 dividend on an annualized basis and a yield of 0.6%. Orla Mining’s dividend payout ratio is -599.40%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ORLA shares. TD Cowen raised Orla Mining from a “hold” rating to a “buy” rating in a report on Wednesday, May 20th. Zacks Research downgraded shares of Orla Mining from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Finally, TD Securities raised shares of Orla Mining from a “hold” rating to a “buy” rating in a research report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Orla Mining has an average rating of “Buy” and a consensus price target 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.