Tacita Capital Inc Makes New Investment in Orla Mining Ltd. $ORLA

Tacita Capital Inc purchased a new stake in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 55,840 shares of the company’s stock, valued at approximately $545,000.

A number of other hedge funds have also modified their holdings of ORLA. Millennium Management LLC lifted its holdings in shares of Orla Mining by 45.8% during the first quarter. Millennium Management LLC now owns 594,177 shares of the company’s stock worth $5,555,000 after purchasing an additional 186,714 shares during the period. Goldman Sachs Group Inc. increased its holdings in Orla Mining by 14.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,061,455 shares of the company’s stock worth $9,925,000 after buying an additional 131,577 shares during the period. Geode Capital Management LLC increased its holdings in Orla Mining by 3.3% in the 2nd quarter. Geode Capital Management LLC now owns 124,405 shares of the company’s stock worth $1,255,000 after buying an additional 3,948 shares during the period. JPMorgan Chase & Co. raised its position in Orla Mining by 83,706.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 313,436 shares of the company’s stock worth $3,141,000 after buying an additional 313,062 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in Orla Mining by 21.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 30,058 shares of the company’s stock worth $301,000 after buying an additional 5,323 shares during the last quarter. 43.04% of the stock is owned by institutional investors and hedge funds.

Orla Mining Price Performance

Orla Mining stock opened at $9.44 on Thursday. The business’s 50-day moving average price is $9.66 and its 200 day moving average price is $13.43. 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 firm has a market cap of $3.27 billion, a price-to-earnings ratio of 13.88 and a beta of 0.28. Orla Mining Ltd. has a 52 week low of $8.43 and a 52 week high of $21.98.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ORLA shares. TD Cowen raised shares of Orla Mining from a “hold” rating to a “buy” rating in a report on Wednesday, May 20th. Zacks Research downgraded shares of Orla Mining from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Finally, TD Securities upgraded shares of Orla Mining from a “hold” rating to a “buy” rating in a research report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus 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.