Renaissance Technologies LLC Buys 334,600 Shares of Orla Mining Ltd. $ORLA

Renaissance Technologies LLC increased its stake in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) by 32.1% in the first quarter, Holdings Channel.com reports. The firm owned 1,376,799 shares of the company’s stock after buying an additional 334,600 shares during the quarter. Renaissance Technologies LLC’s holdings in Orla Mining were worth $22,208,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ORLA. Tudor Investment Corp ET AL acquired a new position in shares of Orla Mining during the third quarter worth $776,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Orla Mining by 29.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,562,500 shares of the company’s stock valued at $21,015,000 after acquiring an additional 354,000 shares in the last quarter. Concurrent Investment Advisors LLC bought a new stake in Orla Mining during the 4th quarter worth $1,197,000. Vanguard Group Inc. grew its position in Orla Mining by 152.1% during the 4th quarter. Vanguard Group Inc. now owns 8,202,861 shares of the company’s stock worth $110,320,000 after acquiring an additional 4,948,805 shares during the last quarter. Finally, Gabelli Funds LLC increased its holdings in Orla Mining by 67.2% in the 4th quarter. Gabelli Funds LLC now owns 1,882,700 shares of the company’s stock worth $25,360,000 after purchasing an additional 756,900 shares in the last quarter. Institutional investors and hedge funds own 43.04% of the company’s stock.

Orla Mining Trading Down 1.9%

Shares of ORLA stock opened at $8.94 on Thursday. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of 13.15 and a beta of 0.28. The stock has a 50-day moving average of $10.34 and a 200-day moving average of $14.16. 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 Ltd. has a 1-year low of $8.43 and a 1-year high of $21.98.

Orla Mining Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, May 26th were issued a $0.015 dividend. The ex-dividend date was Tuesday, May 26th. This represents a $0.06 annualized dividend and a yield of 0.7%. Orla Mining’s dividend payout ratio is presently -599.40%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. TD Securities upgraded Orla Mining from a “hold” rating to a “buy” rating in a research report on Wednesday, May 20th. Zacks Research downgraded Orla Mining from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. Finally, TD Cowen upgraded shares of Orla Mining from a “hold” rating to a “buy” rating in a report on Wednesday, May 20th. One investment 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 company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $27.00.

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.