Orla Mining Ltd. $ORLA Shares Sold by Fairfax Financial Holdings Ltd. Can

Fairfax Financial Holdings Ltd. Can lowered its stake in Orla Mining Ltd. (NYSEAMERICAN:ORLA) by 44.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 31,817,229 shares of the company’s stock after selling 25,000,000 shares during the period. Orla Mining accounts for approximately 20.3% of Fairfax Financial Holdings Ltd. Can’s holdings, making the stock its biggest holding. Fairfax Financial Holdings Ltd. Can owned 0.09% of Orla Mining worth $423,611,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Van ECK Associates Corp lifted its position in shares of Orla Mining by 279.9% during the fourth quarter. Van ECK Associates Corp now owns 19,391,604 shares of the company’s stock worth $261,201,000 after purchasing an additional 14,287,477 shares during the last quarter. Millennium Management LLC increased its holdings in Orla Mining by 992.0% in the third quarter. Millennium Management LLC now owns 9,066,678 shares of the company’s stock valued at $97,814,000 after buying an additional 8,236,385 shares during the last quarter. Vanguard Group Inc. increased its holdings in Orla Mining by 152.1% in the fourth quarter. Vanguard Group Inc. now owns 8,202,861 shares of the company’s stock valued at $110,320,000 after buying an additional 4,948,805 shares during the last quarter. Jupiter Asset Management Ltd. raised its stake in Orla Mining by 25,866.2% during the third quarter. Jupiter Asset Management Ltd. now owns 2,791,369 shares of the company’s stock valued at $30,112,000 after buying an additional 2,780,619 shares in the last quarter. Finally, Norges Bank acquired a new stake in Orla Mining during the fourth quarter valued at approximately $34,756,000. Institutional investors and hedge funds own 43.04% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on ORLA. TD Cowen upgraded Orla Mining from a “hold” rating to a “buy” rating in a research report on Wednesday, May 20th. Zacks Research raised Orla Mining from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. ATB Cormark Capital Markets upgraded Orla Mining from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 23rd. Finally, TD Securities raised shares of Orla Mining from a “hold” rating to a “buy” rating in a report on Wednesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company’s stock. According to MarketBeat, Orla Mining currently has a consensus rating of “Buy” and a consensus target price of $27.00.

Orla Mining Stock Performance

Shares of NYSEAMERICAN ORLA opened at $11.57 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. The firm’s 50-day moving average price is $13.75 and its two-hundred day moving average price is $15.05. Orla Mining Ltd. has a 52-week low of $9.16 and a 52-week high of $21.98. The stock has a market capitalization of $4.00 billion, a P/E ratio of 17.01 and a beta of 0.21.

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 dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Tuesday, May 26th. Orla Mining’s dividend payout ratio is presently -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.