Orla Mining Ltd. $ORLA Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its holdings in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) by 17.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 327,826 shares of the company’s stock after buying an additional 48,717 shares during the period. CIBC Asset Management Inc owned approximately 0.10% of Orla Mining worth $4,412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC acquired a new position in shares of Orla Mining in the third quarter valued at about $27,000. SBI Securities Co. Ltd. increased its holdings in shares of Orla Mining by 67.9% in the fourth quarter. SBI Securities Co. Ltd. now owns 4,672 shares of the company’s stock valued at $63,000 after purchasing an additional 1,889 shares during the period. TD Waterhouse Canada Inc. increased its holdings in shares of Orla Mining by 197.0% in the fourth quarter. TD Waterhouse Canada Inc. now owns 5,313 shares of the company’s stock valued at $71,000 after purchasing an additional 3,524 shares during the period. Osaic Holdings Inc. increased its holdings in shares of Orla Mining by 82.2% in the second quarter. Osaic Holdings Inc. now owns 10,161 shares of the company’s stock valued at $102,000 after purchasing an additional 4,584 shares during the period. Finally, State of Wyoming acquired a new position in shares of Orla Mining in the second quarter valued at about $109,000. 43.04% of the stock is owned by institutional investors and hedge funds.

Orla Mining Stock Down 4.6%

Shares of ORLA opened at $10.81 on Friday. 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 company has a market capitalization of $3.74 billion, a price-to-earnings ratio of 15.90 and a beta of 0.21. The stock’s 50-day moving average price is $14.45 and its 200-day moving average price is $15.12.

Orla Mining Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ORLA. Zacks Research raised Orla Mining from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. ATB Cormark Capital Markets raised Orla Mining from a “hold” rating to a “moderate buy” rating in a report on Monday, February 23rd. TD Cowen raised Orla Mining from a “hold” rating to a “buy” rating in a report on Wednesday, May 20th. Finally, TD Securities raised Orla Mining from a “hold” rating to a “buy” rating in a report on Wednesday, May 20th. Two research 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, Orla Mining currently has a consensus rating of “Buy” and an average target price of $27.00.

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.