Legal & General Group Plc Decreases Stake in Orla Mining Ltd. $ORLA

Legal & General Group Plc lessened its stake in Orla Mining Ltd. (NYSEAMERICAN:ORLA) by 35.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 327,610 shares of the company’s stock after selling 180,298 shares during the quarter. Legal & General Group Plc owned approximately 0.10% of Orla Mining worth $4,412,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Leonteq Securities AG acquired a new stake in shares of Orla Mining in the 4th quarter valued at about $1,214,000. Gamco Investors INC. ET AL raised its stake in shares of Orla Mining by 27.3% in the 4th quarter. Gamco Investors INC. ET AL now owns 82,945 shares of the company’s stock valued at $1,117,000 after purchasing an additional 17,800 shares in the last quarter. Gabelli Funds LLC raised its stake in shares of Orla Mining by 67.2% in the 4th quarter. Gabelli Funds LLC now owns 1,882,700 shares of the company’s stock valued at $25,360,000 after purchasing an additional 756,900 shares in the last quarter. Swiss Life Asset Management Ltd raised its stake in shares of Orla Mining by 111.6% in the 4th quarter. Swiss Life Asset Management Ltd now owns 27,859 shares of the company’s stock valued at $375,000 after purchasing an additional 14,692 shares in the last quarter. Finally, SBI Securities Co. Ltd. raised its stake in shares of Orla Mining by 67.9% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 43.04% of the company’s stock.

Orla Mining Stock Up 0.4%

ORLA stock opened at $10.85 on Tuesday. Orla Mining Ltd. has a 12-month low of $9.16 and a 12-month 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 cap of $3.75 billion, a price-to-earnings ratio of 15.96 and a beta of 0.21. The company has a 50 day moving average of $14.40 and a two-hundred day moving average of $15.13.

Orla Mining Dividend Announcement

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

Analysts Set New Price Targets

ORLA has been the topic of a number of recent analyst reports. TD Cowen upgraded shares of Orla Mining from a “hold” rating to a “buy” rating in a research note on Wednesday, May 20th. ATB Cormark Capital Markets upgraded shares of Orla Mining from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 23rd. Zacks Research upgraded shares of Orla Mining from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. Finally, TD Securities upgraded shares of Orla Mining from a “hold” rating to a “buy” rating in a research report on Wednesday, May 20th. Two investment analysts have rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. Based on data from MarketBeat.com, Orla Mining 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.