Hillsdale Investment Management Inc. Makes New Investment in Orla Mining Ltd. $ORLA

Hillsdale Investment Management Inc. purchased a new stake in Orla Mining Ltd. (NYSEAMERICAN:ORLA) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 428,780 shares of the company’s stock, valued at approximately $6,893,000. Hillsdale Investment Management Inc. owned approximately 0.12% of Orla Mining as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new position in Orla Mining in the 4th quarter worth $29,000. CIBC Private Wealth Group LLC acquired a new stake in shares of Orla Mining in the 3rd quarter valued at about $27,000. SBI Securities Co. Ltd. lifted its holdings in shares of Orla Mining by 67.9% in the fourth 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. TD Waterhouse Canada Inc. lifted its holdings in shares of Orla Mining by 197.0% in the fourth quarter. TD Waterhouse Canada Inc. now owns 5,313 shares of the company’s stock valued at $71,000 after purchasing an additional 3,524 shares in the last quarter. Finally, Osaic Holdings Inc. lifted its holdings in shares of Orla Mining by 82.2% in the second quarter. Osaic Holdings Inc. now owns 10,161 shares of the company’s stock valued at $102,000 after purchasing an additional 4,584 shares in the last quarter. 43.04% of the stock is currently owned by institutional investors and hedge funds.

Orla Mining Stock Up 0.6%

Shares of ORLA opened at $9.49 on Wednesday. Orla Mining Ltd. has a 52 week low of $9.15 and a 52 week high of $21.98. The firm’s 50-day simple moving average is $11.42 and its 200 day simple moving average is $14.54. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.88 and a current ratio of 1.06. The firm has a market cap of $3.28 billion, a P/E ratio of 13.96 and a beta of 0.28.

Orla Mining Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ORLA. TD Cowen upgraded Orla Mining from a “hold” rating to a “buy” rating in a report on Wednesday, May 20th. Zacks Research cut 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 report on Wednesday, May 20th. One 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $27.00.

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.