K.J. Harrison & Partners Inc Takes $781,000 Position in Orla Mining Ltd. $ORLA

K.J. Harrison & Partners Inc bought a new position in Orla Mining Ltd. (NYSEAMERICAN:ORLA) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 80,000 shares of the company’s stock, valued at approximately $781,000.

Other hedge funds have also made changes to their positions in the company. Millennium Management LLC boosted its position in Orla Mining by 45.8% in the first quarter. Millennium Management LLC now owns 594,177 shares of the company’s stock valued at $5,555,000 after buying an additional 186,714 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Orla Mining by 14.1% during the first 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 last quarter. Geode Capital Management LLC increased its holdings in shares of Orla Mining by 3.3% during the second 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 in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Orla Mining by 83,706.4% during the second 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 in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Orla Mining by 21.5% in the second quarter. Russell Investments Group Ltd. now owns 30,058 shares of the company’s stock valued at $301,000 after acquiring an additional 5,323 shares during the last quarter. Institutional investors and hedge funds own 43.04% of the company’s stock.

Orla Mining Price Performance

Shares of NYSEAMERICAN:ORLA opened at $9.44 on Tuesday. Orla Mining Ltd. has a 12 month low of $8.43 and a 12 month high of $21.98. The company’s 50-day moving average price is $9.69 and its two-hundred day moving average price is $13.55. 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 P/E ratio of 13.88 and a beta of 0.28.

Wall Street Analysts Forecast Growth

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