Hillsdale Investment Management Inc. Invests $6.89 Million in Orla Mining Ltd. $ORLA

Hillsdale Investment Management Inc. bought a new stake in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 428,780 shares of the company’s stock, valued at approximately $6,893,000.

Other institutional investors have also added to or reduced their stakes in the company. CIBC Private Wealth Group LLC bought a new stake in Orla Mining during the third quarter worth $27,000. Caitong International Asset Management Co. Ltd bought a new stake in Orla Mining during the fourth quarter worth $29,000. SBI Securities Co. Ltd. raised 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 period. TD Waterhouse Canada Inc. raised its position in Orla Mining by 197.0% in the fourth quarter. TD Waterhouse Canada Inc. now owns 5,313 shares of the company’s stock worth $71,000 after acquiring an additional 3,524 shares during the period. Finally, Osaic Holdings Inc. raised its holdings in shares of Orla Mining by 82.2% in 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 period. 43.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Zacks Research cut shares of Orla Mining from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. TD Cowen raised Orla Mining from a “hold” rating to a “buy” rating in a report on Wednesday, May 20th. Finally, TD Securities raised shares of Orla Mining from a “hold” rating to a “buy” rating in a report 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 issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $27.00.

Orla Mining Price Performance

Shares of Orla Mining stock opened at $9.49 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 1.06 and a debt-to-equity ratio of 0.39. Orla Mining Ltd. has a 52 week low of $9.15 and a 52 week high of $21.98. The company has a market cap of $3.28 billion, a PE ratio of 13.96 and a beta of 0.28. The business has a 50 day moving average of $11.42 and a 200 day moving average of $14.54.

Orla Mining Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 26th were given a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Tuesday, May 26th. Orla Mining’s 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.