CIBC Asset Management Inc Raises Holdings in Orla Mining Ltd. $ORLA

CIBC Asset Management Inc lifted its stake in Orla Mining Ltd. (NYSEAMERICAN:ORLA) by 17.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 327,826 shares of the company’s stock after acquiring an additional 48,717 shares during the quarter. CIBC Asset Management Inc’s holdings in Orla Mining were worth $4,412,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of ORLA. Millennium Management LLC grew 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 valued at $97,814,000 after purchasing an additional 8,236,385 shares during the period. Vanguard Group Inc. raised its stake in shares of Orla Mining by 152.1% during the 4th quarter. Vanguard Group Inc. now owns 8,202,861 shares of the company’s stock worth $110,320,000 after buying an additional 4,948,805 shares during the period. Franklin Resources Inc. raised its stake in shares of Orla Mining by 18.3% during the 3rd quarter. Franklin Resources Inc. now owns 7,611,924 shares of the company’s stock worth $82,079,000 after buying an additional 1,178,690 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Orla Mining by 41.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,251,539 shares of the company’s stock valued at $78,194,000 after buying an additional 2,111,765 shares in the last quarter. Finally, Amundi lifted its position in shares of Orla Mining by 35.5% during the 3rd quarter. Amundi now owns 4,721,047 shares of the company’s stock valued at $54,481,000 after buying an additional 1,237,832 shares in the last quarter. Hedge funds and other institutional investors own 43.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ORLA. TD Securities upgraded Orla Mining from a “hold” rating to a “buy” rating in a research report on Wednesday, May 20th. TD Cowen upgraded Orla Mining from a “hold” rating to a “buy” rating in a research report on Wednesday, May 20th. ATB Cormark Capital Markets upgraded Orla Mining from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 23rd. Finally, Zacks Research upgraded Orla Mining from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. Two equities research analysts have rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $27.00.

Orla Mining Stock Performance

NYSEAMERICAN ORLA opened at $10.81 on Friday. The company has a market cap of $3.74 billion, a PE ratio of 15.90 and a beta of 0.21. The stock’s 50 day simple moving average is $14.45 and its 200-day simple moving average is $15.12. Orla Mining Ltd. has a 1-year low of $9.16 and a 1-year high of $21.98. 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 Dividend Announcement

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

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.