Cibc World Market Inc. Raises Holdings in Orla Mining Ltd. $ORLA

Cibc World Market Inc. grew its position in Orla Mining Ltd. (NYSEAMERICAN:ORLA) by 146.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 257,888 shares of the company’s stock after purchasing an additional 153,246 shares during the quarter. Cibc World Market Inc.’s holdings in Orla Mining were worth $3,469,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. CIBC Private Wealth Group LLC purchased a new stake in shares of Orla Mining during the 3rd quarter worth $27,000. SBI Securities Co. Ltd. lifted its stake in shares of Orla Mining by 67.9% during the 4th quarter. SBI Securities Co. Ltd. now owns 4,672 shares of the company’s stock worth $63,000 after purchasing an additional 1,889 shares during the last quarter. TD Waterhouse Canada Inc. lifted its stake in shares of Orla Mining by 197.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 5,313 shares of the company’s stock worth $71,000 after purchasing an additional 3,524 shares during the last quarter. Osaic Holdings Inc. lifted its stake in shares of Orla Mining by 82.2% during the 2nd quarter. Osaic Holdings Inc. now owns 10,161 shares of the company’s stock worth $102,000 after purchasing an additional 4,584 shares during the last quarter. Finally, State of Wyoming purchased a new stake in shares of Orla Mining during the 2nd quarter worth $109,000. 43.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ORLA shares. TD Securities upgraded Orla Mining from a “hold” rating to a “buy” rating in a research note on Wednesday, May 20th. Zacks Research raised Orla Mining from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. ATB Cormark Capital Markets raised Orla Mining from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 23rd. Finally, TD Cowen raised Orla Mining from a “hold” rating to a “buy” rating in a research report on Wednesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. 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 Stock Up 0.4%

Shares of ORLA opened at $10.85 on Tuesday. Orla Mining Ltd. has a 52 week low of $9.16 and a 52 week high of $21.98. 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 company has a market capitalization of $3.75 billion, a price-to-earnings ratio of 15.96 and a beta of 0.21. The stock’s 50-day moving average price is $14.40 and its 200-day moving average price is $15.13.

Orla Mining Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 26th will be given a dividend of $0.015 per share. The ex-dividend date is Tuesday, May 26th. This represents a $0.06 dividend on an annualized basis and a yield of 0.6%. Orla Mining’s dividend payout ratio is currently -599.40%.

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.