Public Employees Retirement System of Ohio Invests $921,000 in Orla Mining Ltd. $ORLA

Public Employees Retirement System of Ohio purchased a new stake in Orla Mining Ltd. (NYSEAMERICAN:ORLA) during the second quarter, HoldingsChannel reports. The institutional investor purchased 94,256 shares of the company’s stock, valued at approximately $921,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ORLA. Van ECK Associates Corp lifted its stake in Orla Mining by 279.9% in the 4th quarter. Van ECK Associates Corp now owns 19,391,604 shares of the company’s stock valued at $261,201,000 after purchasing an additional 14,287,477 shares during the last quarter. Millennium Management LLC grew its stake in shares of Orla Mining by 992.0% during the third quarter. Millennium Management LLC now owns 9,066,678 shares of the company’s stock worth $97,814,000 after buying an additional 8,236,385 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Orla Mining during the second quarter worth $74,238,000. Vanguard Group Inc. increased its holdings in shares of 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 buying an additional 4,948,805 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Orla Mining by 994.7% in the 4th quarter. Invesco Ltd. now owns 3,539,392 shares of the company’s stock valued at $47,676,000 after acquiring an additional 3,216,068 shares during the last quarter. 43.04% of the stock is owned by institutional investors.

Orla Mining Stock Performance

Shares of ORLA stock opened at $9.44 on Thursday. The stock has a market capitalization of $3.27 billion, a PE ratio of 13.88 and a beta of 0.28. The business’s 50 day simple moving average is $9.42 and its 200 day simple moving average is $12.69. 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 Ltd. has a one year low of $8.43 and a one year high of $21.98.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ORLA shares. Zacks Research downgraded Orla Mining from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. TD Securities raised Orla Mining from a “hold” rating to a “buy” rating in a research note on Wednesday, May 20th. Finally, TD Cowen raised Orla Mining from a “hold” rating to a “buy” rating in a research note on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently 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.