CIBC Asset Management Inc Sells 27,091 Shares of Orla Mining Ltd. $ORLA

CIBC Asset Management Inc lessened its holdings in Orla Mining Ltd. (NYSEAMERICAN:ORLA) by 8.8% during the 3rd quarter, Holdings Channel reports. The firm owned 279,109 shares of the company’s stock after selling 27,091 shares during the period. CIBC Asset Management Inc’s holdings in Orla Mining were worth $3,007,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Orla Mining by 33.7% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,139,774 shares of the company’s stock valued at $51,667,000 after buying an additional 1,296,774 shares during the period. Covea Finance acquired a new position in shares of Orla Mining in the 3rd quarter valued at $10,158,000. Fiera Capital Corp bought a new position in shares of Orla Mining in the 2nd quarter worth $6,594,000. Allspring Global Investments Holdings LLC grew its stake in shares of Orla Mining by 99.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,208,500 shares of the company’s stock worth $13,031,000 after purchasing an additional 601,500 shares during the period. Finally, Invesco Ltd. bought a new stake in Orla Mining in the second quarter valued at about $5,892,000. 43.04% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on ORLA shares. National Bankshares began coverage on Orla Mining in a report on Monday, January 12th. They set an “outperform” rating on the stock. CIBC reissued an “outperform” rating on shares of Orla Mining in a research note on Monday, October 20th. Scotiabank reaffirmed an “outperform” rating on shares of Orla Mining in a research note on Monday. Royal Bank Of Canada reiterated an “outperform” rating on shares of Orla Mining in a report on Tuesday, October 21st. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Orla Mining in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $27.00.

Orla Mining Stock Up 0.1%

Shares of ORLA stock opened at $18.81 on Wednesday. Orla Mining Ltd. has a 12-month low of $5.86 and a 12-month high of $19.87. The company has a quick ratio of 0.88, a current ratio of 1.07 and a debt-to-equity ratio of 0.66. The firm has a fifty day moving average of $14.17 and a 200-day moving average of $12.05. The company has a market capitalization of $6.40 billion, a price-to-earnings ratio of 144.70 and a beta of 0.30.

Orla Mining Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 10th. Shareholders of record on Monday, January 12th will be paid a $0.015 dividend. The ex-dividend date of this dividend is Monday, January 12th. This represents a $0.06 annualized dividend and a dividend yield of 0.3%. Orla Mining’s dividend payout ratio (DPR) is currently -599.40%.

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.