Caisse de depot et placement du Quebec Purchases New Shares in Orla Mining Ltd. $ORLA

Caisse de depot et placement du Quebec purchased a new position in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 268,654 shares of the company’s stock, valued at approximately $2,626,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its stake in shares of Orla Mining by 32.1% during the first quarter. Renaissance Technologies LLC now owns 1,376,799 shares of the company’s stock valued at $22,208,000 after purchasing an additional 334,600 shares during the last quarter. Vanguard Group Inc. raised its position in Orla Mining by 152.1% in the 4th 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. Gabelli Funds LLC raised its position in Orla Mining by 67.2% in the 4th quarter. Gabelli Funds LLC now owns 1,882,700 shares of the company’s stock worth $25,360,000 after purchasing an additional 756,900 shares during the last quarter. Groupe la Francaise lifted its holdings in Orla Mining by 80.0% during the 1st quarter. Groupe la Francaise now owns 1,260,000 shares of the company’s stock worth $20,195,000 after buying an additional 560,000 shares in the last quarter. Finally, D.A. Davidson & CO. acquired a new position in Orla Mining during the 1st quarter worth $2,321,000. Institutional investors own 43.04% of the company’s stock.

Analysts Set New Price Targets

ORLA has been the topic of a number of recent research reports. TD Cowen raised Orla Mining from a “hold” rating to a “buy” rating in a research note on Wednesday, May 20th. Zacks Research lowered Orla Mining from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. Finally, TD Securities raised Orla Mining from a “hold” rating to a “buy” rating in a research note on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Orla Mining has a consensus rating of “Buy” and a consensus price target of $27.00.

Orla Mining Stock Performance

ORLA opened at $9.44 on Friday. The firm has a 50 day simple moving average of $9.47 and a 200 day simple moving average of $13.15. Orla Mining Ltd. has a fifty-two week low of $8.43 and a fifty-two week high of $21.98. The company has a market cap of $3.27 billion, a price-to-earnings ratio of 13.88 and a beta of 0.28. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.88.

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.