Orla Mining Ltd. $ORLA Shares Sold by Fairfax Financial Holdings Ltd. Can

Fairfax Financial Holdings Ltd. Can lessened its holdings in Orla Mining Ltd. (NYSEAMERICAN:ORLA) by 44.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,817,229 shares of the company’s stock after selling 25,000,000 shares during the period. Orla Mining comprises approximately 20.3% of Fairfax Financial Holdings Ltd. Can’s holdings, making the stock its biggest holding. Fairfax Financial Holdings Ltd. Can owned about 9.24% of Orla Mining worth $423,611,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in 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 purchasing an additional 14,287,477 shares in the last quarter. Millennium Management LLC boosted its position in shares of Orla Mining by 992.0% in the third quarter. Millennium Management LLC now owns 9,066,678 shares of the company’s stock worth $97,814,000 after buying an additional 8,236,385 shares during the period. Vanguard Group Inc. boosted its position in shares of Orla Mining by 152.1% in the fourth quarter. Vanguard Group Inc. now owns 8,202,861 shares of the company’s stock worth $110,320,000 after buying an additional 4,948,805 shares during the period. Jupiter Asset Management Ltd. grew its stake in shares of Orla Mining by 25,866.2% in the third quarter. Jupiter Asset Management Ltd. now owns 2,791,369 shares of the company’s stock valued at $30,112,000 after buying an additional 2,780,619 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Orla Mining during the 4th quarter valued at about $34,756,000. Institutional investors and hedge funds own 43.04% of the company’s stock.

Orla Mining Trading Up 3.3%

NYSEAMERICAN:ORLA opened at $11.57 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.88 and a current ratio of 1.06. Orla Mining Ltd. has a one year low of $9.16 and a one year high of $21.98. The business’s 50-day simple moving average is $13.75 and its 200 day simple moving average is $15.05. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of 17.01 and a beta of 0.21.

Orla Mining Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 26th were given a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Tuesday, May 26th. Orla Mining’s dividend payout ratio is presently -599.40%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ORLA shares. ATB Cormark Capital Markets raised Orla Mining from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 23rd. Zacks Research raised shares of Orla Mining from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. TD Cowen upgraded shares of Orla Mining from a “hold” rating to a “buy” rating in a research note on Wednesday, May 20th. Finally, TD Securities raised shares of Orla Mining from a “hold” rating to a “buy” rating in a research report on Wednesday, May 20th. Two research analysts have rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target 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.