Connor Clark & Lunn Investment Management Ltd. Takes $74.24 Million Position in Orla Mining Ltd. $ORLA

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 7,596,526 shares of the company’s stock, valued at approximately $74,238,000.

A number of other institutional investors and hedge funds have also modified their holdings of ORLA. Van ECK Associates Corp lifted its holdings 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 valued at $261,201,000 after buying an additional 14,287,477 shares during the period. Millennium Management LLC grew its holdings in 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 acquiring an additional 8,236,385 shares during the period. Vanguard Group Inc. grew its holdings 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 period. Franklin Resources Inc. raised its position in shares of Orla Mining by 1.0% during the 4th quarter. Franklin Resources Inc. now owns 7,686,849 shares of the company’s stock valued at $103,386,000 after acquiring an additional 74,925 shares during the last quarter. Finally, Amundi lifted its stake in shares of Orla Mining by 35.5% in the 3rd quarter. Amundi now owns 4,721,047 shares of the company’s stock valued at $54,481,000 after purchasing an additional 1,237,832 shares during the period. 43.04% of the stock is owned by institutional investors.

Orla Mining Price Performance

Shares of NYSEAMERICAN ORLA opened at $9.44 on Monday. Orla Mining Ltd. has a 52-week low of $8.43 and a 52-week high of $21.98. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.88 and a current ratio of 1.06. The stock has a market cap of $3.27 billion, a P/E ratio of 13.88 and a beta of 0.28. The firm has a 50 day moving average price of $9.62 and a 200 day moving average price of $13.35.

Analyst Ratings Changes

Several research analysts have recently issued reports on ORLA shares. TD Cowen 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 report on Tuesday, June 16th. Finally, TD Securities raised Orla Mining from a “hold” rating to a “buy” rating in a research note on Wednesday, May 20th. One 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $27.00.

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.