First Eagle Investment Management LLC Buys Shares of 4,767,826 Orla Mining Ltd. $ORLA

First Eagle Investment Management LLC bought a new stake 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 bought 4,767,826 shares of the company’s stock, valued at approximately $46,581,000.

A number of other large investors also recently made changes to their positions in the stock. Van ECK Associates Corp grew its stake in shares of Orla Mining by 279.9% during 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 period. Millennium Management LLC lifted its stake in Orla Mining by 992.0% in the third quarter. Millennium Management LLC now owns 9,066,678 shares of the company’s stock valued at $97,814,000 after buying an additional 8,236,385 shares during the period. Vanguard Group Inc. boosted its holdings in Orla Mining by 152.1% during the fourth 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. Franklin Resources Inc. boosted its holdings in Orla Mining by 1.0% during the fourth quarter. Franklin Resources Inc. now owns 7,686,849 shares of the company’s stock worth $103,386,000 after buying an additional 74,925 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Orla Mining during the 2nd quarter worth about $74,238,000. Institutional investors and hedge funds own 43.04% of the company’s stock.

Orla Mining Stock Performance

Shares of Orla Mining stock opened at $9.44 on Monday. The company has a market capitalization of $3.27 billion, a PE ratio of 13.88 and a beta of 0.28. Orla Mining Ltd. has a 12 month low of $8.43 and a 12 month high of $21.98. The company has a current ratio of 1.06, a quick ratio of 0.88 and a debt-to-equity ratio of 0.39. The stock’s fifty day simple moving average is $9.44 and its 200 day simple moving average is $12.85.

Analyst Ratings Changes

A number of analysts have recently commented on the company. TD Cowen raised Orla Mining from a “hold” rating to a “buy” rating in a research note on Wednesday, May 20th. Zacks Research lowered shares of Orla Mining from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. Finally, TD Securities upgraded shares of Orla Mining from a “hold” rating to a “buy” rating in a report on Wednesday, May 20th. One equities research 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average 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.