53,775 Shares in Orla Mining Ltd. $ORLA Acquired by Quantbot Technologies LP

Quantbot Technologies LP bought a new position in Orla Mining Ltd. (NYSEAMERICAN:ORLA) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 53,775 shares of the company’s stock, valued at approximately $526,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its position 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 buying an additional 14,287,477 shares during the period. Millennium Management LLC lifted its position in shares of Orla Mining by 992.0% during the 3rd quarter. Millennium Management LLC now owns 9,066,678 shares of the company’s stock valued at $97,814,000 after acquiring an additional 8,236,385 shares during the period. Vanguard Group Inc. boosted its stake in Orla Mining by 152.1% during the fourth quarter. Vanguard Group Inc. now owns 8,202,861 shares of the company’s stock worth $110,320,000 after acquiring an additional 4,948,805 shares in the last quarter. Franklin Resources Inc. boosted its stake 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 acquiring an additional 74,925 shares in the last quarter. Finally, Amundi grew its holdings in Orla Mining by 35.5% in the third quarter. Amundi now owns 4,721,047 shares of the company’s stock worth $54,481,000 after purchasing an additional 1,237,832 shares during the period. 43.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ORLA shares. TD Cowen raised shares of Orla Mining from a “hold” rating to a “buy” rating in a research note on Wednesday, May 20th. Zacks Research cut 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 Orla Mining from a “hold” rating to a “buy” rating in a research note 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. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $27.00.

Orla Mining Price Performance

Shares of NYSEAMERICAN ORLA opened at $9.44 on Friday. The stock has a market capitalization of $3.27 billion, a P/E ratio of 13.88 and a beta of 0.28. The company has a 50-day moving average price of $9.49 and a 200-day moving average price of $13.18. Orla Mining Ltd. has a 1 year low of $8.43 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 Company 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.