The Manufacturers Life Insurance Company Takes $3.21 Million Position in Orla Mining Ltd. $ORLA

The Manufacturers Life Insurance Company purchased a new stake in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 328,513 shares of the company’s stock, valued at approximately $3,206,000. The Manufacturers Life Insurance Company owned about 0.09% of Orla Mining at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Van ECK Associates Corp boosted its position in Orla Mining by 279.9% in 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 raised its stake in shares of Orla Mining by 992.0% during the 3rd quarter. Millennium Management LLC now owns 9,066,678 shares of the company’s stock worth $97,814,000 after purchasing an additional 8,236,385 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Orla Mining in the 2nd quarter worth about $74,238,000. Vanguard Group Inc. boosted its holdings in shares of Orla Mining by 152.1% in the 4th quarter. Vanguard Group Inc. now owns 8,202,861 shares of the company’s stock worth $110,320,000 after buying an additional 4,948,805 shares during the last quarter. Finally, Invesco Ltd. grew its position in Orla Mining by 994.7% during the fourth quarter. Invesco Ltd. now owns 3,539,392 shares of the company’s stock valued at $47,676,000 after buying an additional 3,216,068 shares during the period. 43.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Orla Mining Price Performance

NYSEAMERICAN ORLA opened at $9.44 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 company has a market cap of $3.27 billion, a PE 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 firm’s 50-day simple moving average is $9.45 and its two-hundred day simple moving average is $13.01.

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.