Cibc World Market Inc. Makes New Investment in Orla Mining Ltd. $ORLA

Cibc World Market Inc. purchased a new position in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) in the second quarter, HoldingsChannel reports. The institutional investor purchased 724,608 shares of the company’s stock, valued at approximately $7,080,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Concurrent Investment Advisors LLC bought a new position in shares of Orla Mining during the 4th quarter worth about $1,197,000. Renaissance Technologies LLC lifted its stake in shares of Orla Mining by 32.1% in the first quarter. Renaissance Technologies LLC now owns 1,376,799 shares of the company’s stock valued at $22,208,000 after buying an additional 334,600 shares during the period. Vanguard Group Inc. increased its stake in Orla Mining by 152.1% during the fourth quarter. Vanguard Group Inc. now owns 8,202,861 shares of the company’s stock valued at $110,320,000 after acquiring an additional 4,948,805 shares during the period. Gabelli Funds LLC increased its stake in Orla Mining by 67.2% during the fourth quarter. Gabelli Funds LLC now owns 1,882,700 shares of the company’s stock valued at $25,360,000 after acquiring an additional 756,900 shares during the period. Finally, U S Global Investors Inc. acquired a new position in Orla Mining in the 1st quarter valued at approximately $3,966,000. Institutional investors and hedge funds own 43.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Zacks Research downgraded Orla Mining from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. TD Cowen upgraded Orla Mining from a “hold” rating to a “buy” rating in a research note on Wednesday, May 20th. Finally, TD Securities upgraded shares of Orla Mining from a “hold” rating to a “buy” rating in a research note on Wednesday, May 20th. One equities research 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. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $27.00.

Orla Mining Stock Performance

NYSEAMERICAN:ORLA opened at $9.44 on Wednesday. The firm has a market capitalization of $3.27 billion, a PE 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. Orla Mining Ltd. has a 12-month low of $8.43 and a 12-month high of $21.98. The firm has a 50-day moving average price of $9.54 and a 200 day moving average price of $13.26.

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.