Ninepoint Partners LP Makes New Investment in Orla Mining Ltd. $ORLA

Ninepoint Partners LP bought a new position in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 175,000 shares of the company’s stock, valued at approximately $1,890,000. Ninepoint Partners LP owned approximately 0.05% of Orla Mining as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Orla Mining by 1,628.2% during the third quarter. Vanguard Group Inc. now owns 3,254,056 shares of the company’s stock worth $35,095,000 after buying an additional 3,065,761 shares in the last quarter. Jupiter Asset Management Ltd. lifted its position in shares of Orla Mining by 25,866.2% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 2,791,369 shares of the company’s stock valued at $30,112,000 after acquiring an additional 2,780,619 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Orla Mining by 33.7% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,139,774 shares of the company’s stock worth $51,667,000 after acquiring an additional 1,296,774 shares in the last quarter. Waratah Capital Advisors Ltd. acquired a new stake in shares of Orla Mining in the 3rd quarter worth approximately $12,642,000. Finally, Covea Finance purchased a new position in Orla Mining in the 3rd quarter valued at approximately $10,158,000. Hedge funds and other institutional investors own 43.04% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on ORLA shares. Scotiabank reissued an “outperform” rating on shares of Orla Mining in a report on Monday, January 26th. ATB Cormark Capital Markets upgraded shares of Orla Mining from a “hold” rating to a “moderate buy” rating in a research report on Monday. National Bank Financial began coverage on shares of Orla Mining in a research note on Monday, January 12th. They issued an “outperform” rating on the stock. BMO Capital Markets restated an “outperform” rating on shares of Orla Mining in a report on Monday, January 26th. Finally, Zacks Research upgraded shares of Orla Mining from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 11th. Three research analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $27.00.

Orla Mining Price Performance

Orla Mining stock opened at $21.62 on Friday. The stock has a market capitalization of $7.45 billion, a P/E ratio of 166.32 and a beta of 0.30. Orla Mining Ltd. has a 12-month low of $6.75 and a 12-month high of $21.74. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.07 and a quick ratio of 0.88. The firm’s 50-day moving average is $16.19 and its two-hundred day moving average is $13.13.

Orla Mining Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 10th. Stockholders of record on Monday, January 12th were issued a dividend of $0.015 per share. The ex-dividend date was Monday, January 12th. This represents a $0.06 annualized dividend and a dividend yield of 0.3%. Orla Mining’s dividend payout ratio (DPR) is -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.