K2 Principal Fund L.P. Makes New Investment in Orla Mining Ltd. $ORLA

K2 Principal Fund L.P. bought a new stake in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) in the 2nd quarter, HoldingsChannel reports. The fund bought 116,828 shares of the company’s stock, valued at approximately $1,144,000.

A number of other institutional investors and hedge funds also recently modified their holdings of ORLA. Concurrent Investment Advisors LLC acquired a new position in shares of Orla Mining in the 4th quarter valued at about $1,197,000. Renaissance Technologies LLC raised its stake in Orla Mining by 32.1% during the first quarter. Renaissance Technologies LLC now owns 1,376,799 shares of the company’s stock worth $22,208,000 after acquiring an additional 334,600 shares during the period. Vanguard Group Inc. raised its stake in Orla Mining by 152.1% during the fourth quarter. Vanguard Group Inc. now owns 8,202,861 shares of the company’s stock worth $110,320,000 after acquiring an additional 4,948,805 shares during the period. Gabelli Funds LLC lifted its holdings in Orla Mining by 67.2% in the fourth quarter. Gabelli Funds LLC now owns 1,882,700 shares of the company’s stock worth $25,360,000 after acquiring an additional 756,900 shares during the last quarter. Finally, D.A. Davidson & CO. bought a new position in Orla Mining in the first quarter worth about $2,321,000. 43.04% of the stock is owned by institutional investors and hedge funds.

Orla Mining Price Performance

Shares of Orla Mining stock opened at $9.44 on Wednesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.88. Orla Mining Ltd. has a 1-year low of $8.43 and a 1-year high of $21.98. The business’s fifty day moving average price is $9.67 and its two-hundred day moving average price is $13.48. The company has a market capitalization of $3.27 billion, a P/E ratio of 13.88 and a beta of 0.28.

Wall Street Analysts Forecast Growth

ORLA has been the subject of several recent research reports. TD Securities raised Orla Mining from a “hold” rating to a “buy” rating in a report on Wednesday, May 20th. TD Cowen raised Orla Mining from a “hold” rating to a “buy” rating in a report on Wednesday, May 20th. Finally, Zacks Research lowered Orla Mining from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $27.00.

Orla Mining 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.