Orla Mining Ltd. $ORLA Stock Holdings Lowered by Covea Finance

Covea Finance lessened its position in Orla Mining Ltd. (NYSEAMERICAN:ORLA) by 13.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 811,700 shares of the company’s stock after selling 130,500 shares during the period. Covea Finance owned approximately 0.24% of Orla Mining worth $10,944,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. CIBC Private Wealth Group LLC acquired a new position in Orla Mining during the 3rd quarter valued at about $27,000. TD Waterhouse Canada Inc. increased its stake in shares of Orla Mining by 50.0% in the second quarter. TD Waterhouse Canada Inc. now owns 5,368 shares of the company’s stock valued at $53,000 after purchasing an additional 1,789 shares during the period. Farther Finance Advisors LLC bought a new stake in shares of Orla Mining during the third quarter valued at approximately $58,000. Osaic Holdings Inc. boosted its position in shares of Orla Mining by 82.2% during the second quarter. Osaic Holdings Inc. now owns 10,161 shares of the company’s stock worth $102,000 after buying an additional 4,584 shares during the period. Finally, State of Wyoming acquired a new position in shares of Orla Mining during the second quarter worth approximately $109,000. 43.04% of the stock is currently owned by institutional investors.

Orla Mining Price Performance

NYSEAMERICAN ORLA opened at $14.03 on Friday. Orla Mining Ltd. has a 12 month low of $7.08 and a 12 month high of $21.98. The firm has a market capitalization of $4.85 billion, a PE ratio of 53.96 and a beta of 0.23. The company’s 50 day simple moving average is $17.17 and its 200 day simple moving average is $13.86. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.07 and a quick ratio of 0.88.

Analyst Ratings Changes

ORLA has been the subject of a number of recent analyst reports. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Orla Mining in a research report on Wednesday, February 4th. ATB Cormark Capital Markets upgraded Orla Mining from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 23rd. BMO Capital Markets reissued an “outperform” rating on shares of Orla Mining in a research note on Monday, January 26th. Zacks Research raised Orla Mining from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. Finally, Scotiabank restated an “outperform” rating on shares of Orla Mining in a research note on Monday, January 26th. Two research analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $27.00.

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.