Cibc World Market Inc. Boosts Stock Position in Orla Mining Ltd. $ORLA

Cibc World Market Inc. boosted its holdings in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) by 146.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 257,888 shares of the company’s stock after purchasing an additional 153,246 shares during the quarter. Cibc World Market Inc. owned about 0.08% of Orla Mining worth $3,469,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL bought a new stake in Orla Mining during the 3rd quarter valued at approximately $776,000. Gabelli Funds LLC raised its stake in Orla Mining by 9.7% during the 3rd quarter. Gabelli Funds LLC now owns 1,125,800 shares of the company’s stock valued at $12,159,000 after purchasing an additional 100,000 shares during the period. Quantbot Technologies LP bought a new stake in Orla Mining during the 3rd quarter valued at approximately $976,000. Forge First Asset Management Inc. bought a new stake in Orla Mining during the 3rd quarter valued at approximately $1,079,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Orla Mining by 41.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,251,539 shares of the company’s stock valued at $78,194,000 after purchasing an additional 2,111,765 shares during the period. Institutional investors own 43.04% of the company’s stock.

Wall Street Analyst Weigh In

ORLA has been the topic of a number of research reports. Zacks Research raised Orla Mining from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. TD Securities raised Orla Mining from a “hold” rating to a “buy” rating in a research note on Wednesday, May 20th. ATB Cormark Capital Markets raised Orla Mining from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 23rd. Finally, TD Cowen raised Orla Mining from a “hold” rating to a “buy” rating in a research note on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating and seven have given a Buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $27.00.

Orla Mining Price Performance

ORLA opened at $10.85 on Tuesday. The business has a fifty day moving average of $14.40 and a 200 day moving average of $15.13. Orla Mining Ltd. has a 52-week low of $9.16 and a 52-week high of $21.98. The company has a quick ratio of 0.88, a current ratio of 1.06 and a debt-to-equity ratio of 0.39. The stock has a market cap of $3.75 billion, a P/E ratio of 15.96 and a beta of 0.21.

Orla Mining Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Tuesday, May 26th will be paid a $0.015 dividend. The ex-dividend date of this dividend is Tuesday, May 26th. This represents a $0.06 annualized dividend and a yield of 0.6%. Orla Mining’s dividend payout ratio is -599.40%.

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.