724,608 Shares in Orla Mining Ltd. $ORLA Acquired by Cibc World Market Inc.

Cibc World Market Inc. bought a new stake in Orla Mining Ltd. (NYSEAMERICAN:ORLA) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 724,608 shares of the company’s stock, valued at approximately $7,080,000. Cibc World Market Inc. owned about 0.21% of Orla Mining as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ORLA. Van ECK Associates Corp increased its stake in shares of Orla Mining by 279.9% during the 4th quarter. Van ECK Associates Corp now owns 19,391,604 shares of the company’s stock worth $261,201,000 after purchasing an additional 14,287,477 shares during the last quarter. Millennium Management LLC boosted its holdings in Orla Mining by 992.0% in the third quarter. Millennium Management LLC now owns 9,066,678 shares of the company’s stock worth $97,814,000 after purchasing an additional 8,236,385 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Orla Mining by 152.1% in the fourth quarter. Vanguard Group Inc. now owns 8,202,861 shares of the company’s stock worth $110,320,000 after purchasing an additional 4,948,805 shares in the last quarter. Franklin Resources Inc. increased its position in Orla Mining by 1.0% during the fourth quarter. Franklin Resources Inc. now owns 7,686,849 shares of the company’s stock worth $103,386,000 after buying an additional 74,925 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Orla Mining during the second quarter worth $74,238,000. 43.04% of the stock is owned by institutional investors.

Orla Mining Price Performance

Shares of Orla Mining stock opened at $9.44 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 0.88 and a debt-to-equity ratio of 0.39. The firm has a fifty day simple moving average of $9.54 and a 200-day simple moving average of $13.26. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 13.88 and a beta of 0.28. Orla Mining Ltd. has a 1-year low of $8.43 and a 1-year high of $21.98.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ORLA shares. TD Cowen upgraded Orla Mining from a “hold” rating to a “buy” rating in a report on Wednesday, May 20th. Zacks Research lowered Orla Mining from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Finally, TD Securities raised Orla Mining from a “hold” rating to a “buy” rating in a report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Orla Mining presently has a consensus rating of “Buy” and an average target price 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.