Gabelli Funds LLC Increases Position in Orla Mining Ltd. $ORLA

Gabelli Funds LLC grew its stake in Orla Mining Ltd. (NYSEAMERICAN:ORLA) by 67.2% during the fourth quarter, HoldingsChannel reports. The fund owned 1,882,700 shares of the company’s stock after acquiring an additional 756,900 shares during the quarter. Gabelli Funds LLC’s holdings in Orla Mining were worth $25,360,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Tudor Investment Corp ET AL purchased a new position in shares of Orla Mining in the 3rd quarter valued at $776,000. Forge First Asset Management Inc. purchased a new position in shares of Orla Mining in the 3rd quarter valued at $1,079,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Orla Mining by 41.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,251,539 shares of the company’s stock valued at $78,194,000 after acquiring an additional 2,111,765 shares during the period. Quantbot Technologies LP purchased a new position in shares of Orla Mining in the 3rd quarter valued at $976,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Orla Mining by 29.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,562,500 shares of the company’s stock valued at $21,015,000 after acquiring an additional 354,000 shares during the period. 43.04% of the stock is currently owned by hedge funds and other institutional investors.

Orla Mining Stock Down 2.6%

Shares of ORLA stock opened at $13.00 on Tuesday. Orla Mining Ltd. has a 1-year low of $9.16 and a 1-year high of $21.98. The stock’s fifty day moving average price is $15.53 and its 200 day moving average price is $15.00. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.88. The company has a market cap of $4.50 billion, a price-to-earnings ratio of 19.12 and a beta of 0.20.

Orla Mining Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 26th will be given a dividend of $0.015 per share. The ex-dividend date of this dividend is Tuesday, May 26th. This represents a $0.06 dividend on an annualized basis and a yield of 0.5%. Orla Mining’s payout ratio is currently -599.40%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Zacks Research downgraded Orla Mining from a “strong-buy” rating to a “hold” rating in a report on Monday, March 23rd. BMO Capital Markets reiterated an “outperform” rating on shares of Orla Mining in a report on Monday, January 26th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Orla Mining in a research note on Wednesday, February 4th. Scotiabank restated an “outperform” rating on shares of Orla Mining in a research note on Monday, January 26th. Finally, ATB Cormark Capital Markets upgraded Orla Mining from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Orla Mining has a consensus rating of “Buy” and an average price target of $27.00.

Orla Mining 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.