Legal & General Group Plc Sells 180,298 Shares of Orla Mining Ltd. $ORLA

Legal & General Group Plc lowered its holdings in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) by 35.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 327,610 shares of the company’s stock after selling 180,298 shares during the quarter. Legal & General Group Plc’s holdings in Orla Mining were worth $4,412,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Leonteq Securities AG bought a new position in shares of Orla Mining during the 4th quarter valued at $1,214,000. Gamco Investors INC. ET AL raised its holdings in shares of Orla Mining by 27.3% during the 4th quarter. Gamco Investors INC. ET AL now owns 82,945 shares of the company’s stock valued at $1,117,000 after purchasing an additional 17,800 shares in the last quarter. Gabelli Funds LLC raised its holdings in shares of Orla Mining by 67.2% during the 4th quarter. Gabelli Funds LLC now owns 1,882,700 shares of the company’s stock valued at $25,360,000 after purchasing an additional 756,900 shares in the last quarter. Swiss Life Asset Management Ltd raised its holdings in shares of Orla Mining by 111.6% during the 4th quarter. Swiss Life Asset Management Ltd now owns 27,859 shares of the company’s stock valued at $375,000 after purchasing an additional 14,692 shares in the last quarter. Finally, SBI Securities Co. Ltd. raised its holdings in shares of Orla Mining by 67.9% during the 4th 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 in the last quarter. Institutional investors own 43.04% of the company’s stock.

Orla Mining Stock Performance

NYSEAMERICAN ORLA opened at $10.85 on Tuesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.88. The firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of 15.96 and a beta of 0.21. The company’s fifty day moving average is $14.40 and its two-hundred day moving average is $15.13. Orla Mining Ltd. has a 52-week low of $9.16 and a 52-week high of $21.98.

Orla Mining Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 26th will be given a $0.015 dividend. This represents a $0.06 annualized dividend and a yield of 0.6%. The ex-dividend date is Tuesday, May 26th. Orla Mining’s dividend payout ratio (DPR) is currently -599.40%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ORLA. Zacks Research upgraded shares of Orla Mining from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. TD Cowen upgraded shares of Orla Mining from a “hold” rating to a “buy” rating in a report on Wednesday, May 20th. ATB Cormark Capital Markets upgraded shares of Orla Mining from a “hold” rating to a “moderate buy” rating in a report on Monday, February 23rd. Finally, TD Securities upgraded shares of Orla Mining from a “hold” rating to a “buy” rating in a report on Wednesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $27.00.

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.