Connor Clark & Lunn Investment Management Ltd. Invests $74.24 Million in Orla Mining Ltd. $ORLA

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 7,596,526 shares of the company’s stock, valued at approximately $74,238,000. Connor Clark & Lunn Investment Management Ltd. owned about 2.20% of Orla Mining at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. CIBC Private Wealth Group LLC acquired a new position in Orla Mining in the third quarter worth $27,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Orla Mining during the fourth quarter worth $29,000. Optiver Holding B.V. acquired a new stake in shares of Orla Mining in the first quarter valued at $40,000. SBI Securities Co. Ltd. increased its stake 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 valued at $63,000 after buying an additional 1,889 shares in the last quarter. Finally, TD Waterhouse Canada Inc. raised its holdings 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 valued at $71,000 after buying an additional 3,524 shares during the last quarter. 43.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Orla Mining Price Performance

Shares of ORLA opened at $9.44 on Monday. The business’s fifty day moving average price is $9.62 and its two-hundred day moving average price is $13.35. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of 13.88 and a beta of 0.28. Orla Mining Ltd. has a 52 week low of $8.43 and a 52 week high of $21.98. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.88 and a current ratio of 1.06.

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.