First Eagle Investment Management LLC Sells 133,070 Shares of Orla Mining Ltd. $ORLA

First Eagle Investment Management LLC lessened its position in Orla Mining Ltd. (NYSEAMERICAN:ORLA) by 1.9% in the third quarter, HoldingsChannel reports. The firm owned 6,719,636 shares of the company’s stock after selling 133,070 shares during the quarter. First Eagle Investment Management LLC’s holdings in Orla Mining were worth $72,458,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ORLA. Millennium Management LLC raised its holdings in Orla Mining by 45.8% in the first quarter. Millennium Management LLC now owns 594,177 shares of the company’s stock worth $5,555,000 after buying an additional 186,714 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Orla Mining by 14.1% during the first quarter. Goldman Sachs Group Inc. now owns 1,061,455 shares of the company’s stock valued at $9,925,000 after buying an additional 131,577 shares during the last quarter. PCJ Investment Counsel Ltd. grew its position in shares of Orla Mining by 81.6% during the 2nd quarter. PCJ Investment Counsel Ltd. now owns 266,250 shares of the company’s stock valued at $2,676,000 after acquiring an additional 119,620 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Orla Mining by 33.7% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,139,774 shares of the company’s stock worth $51,667,000 after purchasing an additional 1,296,774 shares in the last quarter. Finally, Merrion Investment Management Co LLC bought a new position in Orla Mining in the 2nd quarter worth $355,000. Hedge funds and other institutional investors own 43.04% of the company’s stock.

Orla Mining Stock Performance

ORLA opened at $21.70 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.88 and a current ratio of 1.07. The stock has a market capitalization of $7.47 billion, a price-to-earnings ratio of 166.94 and a beta of 0.23. The company has a fifty day moving average of $16.34 and a 200 day moving average of $13.26. Orla Mining Ltd. has a fifty-two week low of $6.85 and a fifty-two week high of $21.98.

Orla Mining Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 10th. Investors of record on Monday, January 12th were given a $0.015 dividend. This represents a $0.06 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, January 12th. Orla Mining’s payout ratio is currently -599.40%.

Analyst Ratings Changes

Several analysts have issued reports on ORLA shares. ATB Cormark Capital Markets raised Orla Mining from a “hold” rating to a “moderate buy” rating in a report on Monday, February 23rd. National Bank Financial started coverage on Orla Mining in a research report on Monday, January 12th. They set an “outperform” rating on the stock. BMO Capital Markets reiterated an “outperform” rating on shares of Orla Mining in a research note on Monday, January 26th. Zacks Research upgraded shares of Orla Mining from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 11th. Finally, Scotiabank reiterated an “outperform” rating on shares of Orla Mining in a research report on Monday, January 26th. Three analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to MarketBeat.com, Orla Mining presently has an average rating of “Buy” and an average price target of $27.00.

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.