OMERS ADMINISTRATION Corp acquired a new position in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA – Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,218,965 shares of the company’s stock, valued at approximately $11,917,000. OMERS ADMINISTRATION Corp owned 0.35% of Orla Mining at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Millennium Management LLC raised its stake in Orla Mining by 45.8% during the first quarter. Millennium Management LLC now owns 594,177 shares of the company’s stock worth $5,555,000 after purchasing an additional 186,714 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Orla Mining by 14.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,061,455 shares of the company’s stock valued at $9,925,000 after purchasing an additional 131,577 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Orla Mining by 3.3% during the 2nd quarter. Geode Capital Management LLC now owns 124,405 shares of the company’s stock valued at $1,255,000 after buying an additional 3,948 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Orla Mining by 83,706.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 313,436 shares of the company’s stock valued at $3,141,000 after buying an additional 313,062 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in shares of Orla Mining by 21.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 30,058 shares of the company’s stock worth $301,000 after buying an additional 5,323 shares during the last quarter. 43.04% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research analysts recently weighed in on the company. TD Securities raised Orla Mining from a “hold” rating to a “buy” rating in a research report on Wednesday, May 20th. Zacks Research downgraded Orla Mining from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Finally, TD Cowen upgraded Orla Mining from a “hold” rating to a “buy” rating in a research note on Wednesday, May 20th. 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $27.00.
Orla Mining Price Performance
ORLA opened at $9.44 on Monday. Orla Mining Ltd. has a 52-week low of $8.43 and a 52-week high of $21.98. The company has a 50 day moving average of $9.62 and a two-hundred day moving average of $13.35. The company has a market cap of $3.27 billion, a P/E ratio of 13.88 and a beta of 0.28. The company has a quick ratio of 0.88, a current ratio of 1.06 and a debt-to-equity ratio of 0.39.
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.
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