275,955 Shares in Orla Mining Ltd. $ORLA Purchased by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. bought a new stake in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 275,955 shares of the company’s stock, valued at approximately $2,695,000. Polar Asset Management Partners Inc. owned 0.08% of Orla Mining at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. CIBC Private Wealth Group LLC purchased a new position in shares of Orla Mining in the third quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Orla Mining in the 4th quarter valued at $29,000. Ancora Advisors LLC acquired a new position in shares of Orla Mining in the 2nd quarter valued at $31,000. Optiver Holding B.V. purchased a new position in shares of Orla Mining in the 1st quarter valued at $40,000. Finally, SBI Securities Co. Ltd. grew its position in shares of Orla Mining by 67.9% in the 4th quarter. SBI Securities Co. Ltd. now owns 4,672 shares of the company’s stock valued at $63,000 after buying an additional 1,889 shares during the last quarter. 43.04% of the stock is owned by institutional investors and hedge funds.

Orla Mining Price Performance

Shares of Orla Mining stock opened at $9.44 on Wednesday. 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. 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 firm has a fifty day moving average of $9.54 and a two-hundred day moving average of $13.26.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ORLA. TD Securities raised shares of 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 Cowen upgraded Orla Mining from a “hold” rating to a “buy” rating in a research note on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus 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.