Orla Mining Ltd. $ORLA Shares Sold by Covea Finance

Covea Finance cut its holdings in Orla Mining Ltd. (NYSEAMERICAN:ORLA) by 13.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 811,700 shares of the company’s stock after selling 130,500 shares during the quarter. Covea Finance’s holdings in Orla Mining were worth $10,944,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ORLA. Tudor Investment Corp ET AL acquired a new position in shares of Orla Mining in the 3rd quarter worth approximately $776,000. Swiss Life Asset Management Ltd bought a new stake in shares of Orla Mining in the 3rd quarter worth approximately $142,000. CIBC Private Wealth Group LLC acquired a new stake in Orla Mining during the third quarter valued at approximately $27,000. Parvin Asset Management LLC boosted its holdings in Orla Mining by 2.2% during the third quarter. Parvin Asset Management LLC now owns 69,675 shares of the company’s stock worth $752,000 after buying an additional 1,475 shares in the last quarter. Finally, Wexford Capital LP bought a new stake in Orla Mining during the third quarter worth approximately $165,000. 43.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on ORLA. National Bank Financial initiated coverage on Orla Mining in a report on Monday, January 12th. They issued an “outperform” rating on the stock. ATB Cormark Capital Markets raised Orla Mining from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 23rd. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Orla Mining in a report on Wednesday, February 4th. Zacks Research raised Orla Mining from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 11th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Orla Mining in a report on Monday, January 26th. Two analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $27.00.

Orla Mining Trading Up 4.9%

NYSEAMERICAN:ORLA opened at $14.03 on Friday. The stock has a market cap of $4.85 billion, a PE ratio of 53.96 and a beta of 0.23. Orla Mining Ltd. has a fifty-two week low of $7.08 and a fifty-two week high of $21.98. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.07 and a quick ratio of 0.88. The stock’s 50-day moving average is $17.17 and its two-hundred day moving average is $13.86.

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.