Forge First Asset Management Inc. Makes New $1.08 Million Investment in Orla Mining Ltd. $ORLA

Forge First Asset Management Inc. purchased a new position in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 100,000 shares of the company’s stock, valued at approximately $1,079,000.

Several other institutional investors have also modified their holdings of ORLA. Allspring Global Investments Holdings LLC increased its stake in Orla Mining by 99.1% during the 3rd 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 in the last quarter. Triasima Portfolio Management inc. acquired a new position in shares of Orla Mining in the third quarter valued at approximately $2,303,000. Merrion Investment Management Co LLC acquired a new position in shares of Orla Mining in the second quarter valued at approximately $355,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Orla Mining during the third quarter worth $807,000. Finally, CWA Asset Management Group LLC increased its position in shares of Orla Mining by 22.9% during the third quarter. CWA Asset Management Group LLC now owns 3,126,430 shares of the company’s stock worth $33,765,000 after acquiring an additional 582,789 shares in the last quarter. Institutional investors own 43.04% of the company’s stock.

Orla Mining Stock Up 3.9%

Shares of ORLA stock opened at $20.72 on Friday. The firm’s fifty day moving average price is $16.04 and its two-hundred day moving average price is $13.05. The company has a current ratio of 1.07, a quick ratio of 0.88 and a debt-to-equity ratio of 0.66. Orla Mining Ltd. has a 1 year low of $6.75 and a 1 year high of $20.79. The firm has a market capitalization of $7.14 billion, a P/E ratio of 159.40 and a beta of 0.30.

Orla Mining Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Zacks Research raised shares of Orla Mining from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 11th. Scotiabank reissued an “outperform” rating on shares of Orla Mining in a research note on Monday, January 26th. BMO Capital Markets restated an “outperform” rating on shares of Orla Mining in a report on Monday, January 26th. ATB Cormark Capital Markets upgraded Orla Mining from a “hold” rating to a “moderate buy” rating in a report on Monday. Finally, National Bank Financial assumed coverage on Orla Mining in a research report on Monday, January 12th. They issued an “outperform” rating on the stock. Three investment analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to data from MarketBeat.com, the stock presently 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.