Polar Asset Management Partners Inc. Buys Shares of 275,955 Orla Mining Ltd. $ORLA

Polar Asset Management Partners Inc. acquired a new position in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 275,955 shares of the company’s stock, valued at approximately $2,695,000.

A number of other institutional investors also recently bought and sold shares of ORLA. Van ECK Associates Corp boosted its position in shares of Orla Mining by 279.9% in 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 in the last quarter. Millennium Management LLC increased its holdings in 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Orla Mining during the 2nd quarter valued at about $74,238,000. Vanguard Group Inc. raised its position 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 during the last quarter. Finally, Invesco Ltd. raised its position in Orla Mining by 994.7% during the fourth quarter. Invesco Ltd. now owns 3,539,392 shares of the company’s stock worth $47,676,000 after acquiring an additional 3,216,068 shares during the last quarter. 43.04% of the stock is currently owned by hedge funds and other institutional investors.

Orla Mining Price Performance

ORLA stock opened at $9.44 on Wednesday. The company has a 50 day moving average price of $9.54 and a two-hundred day moving average price of $13.26. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.88 and a current ratio of 1.06. The stock has a market capitalization of $3.27 billion, a P/E ratio of 13.88 and a beta of 0.28. Orla Mining Ltd. has a one year low of $8.43 and a one year high of $21.98.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ORLA shares. TD Cowen raised shares of Orla Mining from a “hold” rating to a “buy” rating in a report on Wednesday, May 20th. TD Securities raised shares of Orla Mining from a “hold” rating to a “buy” rating in a research note on Wednesday, May 20th. Finally, Zacks Research downgraded Orla Mining from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $27.00.

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.