Ninepoint Partners LP Purchases New Shares in Orla Mining Ltd. $ORLA

Ninepoint Partners LP purchased a new position in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) during the second quarter, Holdings Channel reports. The institutional investor purchased 222,500 shares of the company’s stock, valued at approximately $2,178,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of Orla Mining during the 4th quarter valued at $29,000. CIBC Private Wealth Group LLC bought a new position in Orla Mining in the 3rd quarter valued at $27,000. Optiver Holding B.V. purchased a new position in shares of Orla Mining during the 1st quarter valued at $40,000. SBI Securities Co. Ltd. increased its holdings in shares of Orla Mining by 67.9% in the fourth 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. Finally, TD Waterhouse Canada Inc. raised its position in shares of 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 buying an additional 3,524 shares in the last quarter. 43.04% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Orla Mining Stock Performance

Shares of NYSEAMERICAN ORLA opened at $9.44 on Friday. The stock’s 50-day moving average is $9.64 and its 200 day moving average is $13.39. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 13.88 and a beta of 0.28. Orla Mining Ltd. has a 1-year low of $8.43 and a 1-year high of $21.98. The company has a current ratio of 1.06, a quick ratio of 0.88 and a debt-to-equity ratio of 0.39.

Orla Mining 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.