Public Employees Retirement System of Ohio Purchases Shares of 94,256 Orla Mining Ltd. $ORLA

Public Employees Retirement System of Ohio bought a new stake in Orla Mining Ltd. (NYSEAMERICAN:ORLA) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 94,256 shares of the company’s stock, valued at approximately $921,000.

Several other hedge funds have also added to or reduced their stakes in ORLA. Millennium Management LLC increased its position in Orla Mining by 45.8% during the 1st 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 period. Goldman Sachs Group Inc. grew its position in shares of Orla Mining by 14.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,061,455 shares of the company’s stock worth $9,925,000 after purchasing an additional 131,577 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Orla Mining by 3.3% during the second quarter. Geode Capital Management LLC now owns 124,405 shares of the company’s stock worth $1,255,000 after purchasing an additional 3,948 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Orla Mining by 83,706.4% during the second quarter. JPMorgan Chase & Co. now owns 313,436 shares of the company’s stock worth $3,141,000 after purchasing an additional 313,062 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of Orla Mining by 21.5% in the second quarter. Russell Investments Group Ltd. now owns 30,058 shares of the company’s stock valued at $301,000 after buying an additional 5,323 shares in the last quarter. 43.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ORLA. TD Securities raised Orla Mining from a “hold” rating to a “buy” rating in a research report on Wednesday, May 20th. Zacks Research cut Orla Mining from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Finally, TD Cowen upgraded 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 given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $27.00.

Orla Mining Price Performance

Shares of ORLA opened at $9.44 on Thursday. The firm has a 50 day simple moving average of $9.42 and a two-hundred day simple moving average of $12.69. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.88. Orla Mining Ltd. has a one year low of $8.43 and a one year high of $21.98. The company has a market cap of $3.27 billion, a P/E ratio of 13.88 and a beta of 0.28.

About Orla Mining

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.