Ewing Morris & Co. Investment Partners Ltd. Invests $498,000 in Orla Mining Ltd. $ORLA

Ewing Morris & Co. Investment Partners Ltd. bought a new position in Orla Mining Ltd. (NYSEAMERICAN:ORLA) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 61,000 shares of the company’s stock, valued at approximately $498,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Millennium Management LLC increased its position in Orla Mining by 45.8% in the first 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 in the last quarter. Goldman Sachs Group Inc. lifted 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 valued at $9,925,000 after buying an additional 131,577 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Orla Mining by 3.3% during the 2nd quarter. Geode Capital Management LLC now owns 124,405 shares of the company’s stock valued at $1,255,000 after buying an additional 3,948 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Orla Mining by 83,706.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 313,436 shares of the company’s stock valued at $3,141,000 after buying an additional 313,062 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of Orla Mining by 21.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 30,058 shares of the company’s stock valued at $301,000 after acquiring an additional 5,323 shares during the period. 43.04% of the stock is currently owned by hedge funds and other institutional investors.

Orla Mining Stock Performance

ORLA opened at $9.44 on Thursday. 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 capitalization of $3.27 billion, a price-to-earnings ratio of 13.88 and a beta of 0.28. The company has a fifty day moving average of $9.45 and a 200 day moving average of $12.96. Orla Mining Ltd. has a fifty-two week low of $8.43 and a fifty-two week high of $21.98.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. TD Securities raised shares of Orla Mining from a “hold” rating to a “buy” rating in a report on Wednesday, May 20th. Zacks Research downgraded shares of Orla Mining from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Finally, TD Cowen raised shares of 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 issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Orla Mining presently has an average 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.