Ninepoint Partners LP Invests $2.18 Million in Orla Mining Ltd. $ORLA

Ninepoint Partners LP purchased a new stake in Orla Mining Ltd. (NYSEAMERICAN:ORLA) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 222,500 shares of the company’s stock, valued at approximately $2,178,000. Ninepoint Partners LP owned approximately 0.06% of Orla Mining as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Van ECK Associates Corp increased its holdings in Orla Mining by 279.9% in the 4th quarter. Van ECK Associates Corp now owns 19,391,604 shares of the company’s stock valued at $261,201,000 after buying an additional 14,287,477 shares during the period. Millennium Management LLC increased its stake in Orla Mining by 992.0% in the third quarter. Millennium Management LLC now owns 9,066,678 shares of the company’s stock valued at $97,814,000 after acquiring an additional 8,236,385 shares during the last quarter. Vanguard Group Inc. raised its position 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 purchasing an additional 4,948,805 shares in the last quarter. Invesco Ltd. raised its position in Orla Mining by 994.7% during the fourth quarter. Invesco Ltd. now owns 3,539,392 shares of the company’s stock valued at $47,676,000 after purchasing an additional 3,216,068 shares in the last quarter. Finally, Norges Bank bought a new stake in Orla Mining during the fourth quarter worth $34,756,000. Institutional investors own 43.04% of the company’s stock.

Analysts Set New Price Targets

ORLA has been the topic of a number of research analyst reports. TD Cowen raised Orla Mining from a “hold” rating to a “buy” rating in a report on Wednesday, May 20th. TD Securities upgraded Orla Mining from a “hold” rating to a “buy” rating in a research report on Wednesday, May 20th. Finally, Zacks Research lowered Orla Mining from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $27.00.

Orla Mining Stock Performance

Shares of Orla Mining stock opened at $9.44 on Friday. The company’s 50 day moving average price is $9.64 and its two-hundred day moving average price is $13.39. The firm has a market capitalization of $3.27 billion, a P/E ratio of 13.88 and a beta of 0.28. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.88. Orla Mining Ltd. has a fifty-two week low of $8.43 and a fifty-two week high of $21.98.

Orla Mining 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.