Gabelli Funds LLC Purchases 100,000 Shares of Orla Mining Ltd. $ORLA

Gabelli Funds LLC lifted its position in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) by 9.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,125,800 shares of the company’s stock after acquiring an additional 100,000 shares during the period. Gabelli Funds LLC’s holdings in Orla Mining were worth $12,159,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of ORLA. Vanguard Group Inc. boosted its stake in Orla Mining by 1,628.2% in the third quarter. Vanguard Group Inc. now owns 3,254,056 shares of the company’s stock valued at $35,095,000 after buying an additional 3,065,761 shares in the last quarter. Jupiter Asset Management Ltd. lifted its stake in Orla Mining by 25,866.2% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 2,791,369 shares of the company’s stock valued at $30,112,000 after purchasing an additional 2,780,619 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Orla Mining by 33.7% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,139,774 shares of the company’s stock valued at $51,667,000 after purchasing an additional 1,296,774 shares during the last quarter. Waratah Capital Advisors Ltd. acquired a new stake in Orla Mining in the third quarter valued at approximately $12,642,000. Finally, Covea Finance acquired a new stake in Orla Mining in the third quarter valued at approximately $10,158,000. Institutional investors and hedge funds own 43.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ORLA. National Bank Financial started coverage on shares of Orla Mining in a report on Monday, January 12th. They set an “outperform” rating for the company. Scotiabank reissued an “outperform” rating on shares of Orla Mining in a report on Monday, January 26th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Orla Mining in a research report on Wednesday, February 4th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Orla Mining in a report on Monday, January 26th. Finally, Zacks Research raised Orla Mining from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 11th. Three equities research analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $27.00.

Orla Mining Trading Down 1.4%

Shares of NYSEAMERICAN ORLA opened at $18.11 on Monday. The firm has a 50 day moving average price of $16.70 and a two-hundred day moving average price of $13.52. The stock has a market cap of $6.24 billion, a P/E ratio of 139.32 and a beta of 0.23. Orla Mining Ltd. has a 52-week low of $7.02 and a 52-week high of $21.98. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.88 and a current ratio of 1.07.

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.