K2 Principal Fund L.P. Purchases New Stake in Orla Mining Ltd. $ORLA

K2 Principal Fund L.P. purchased a new stake in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 116,828 shares of the company’s stock, valued at approximately $1,144,000.

Other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp increased its position in shares of Orla Mining by 279.9% in the fourth quarter. Van ECK Associates Corp now owns 19,391,604 shares of the company’s stock worth $261,201,000 after acquiring an additional 14,287,477 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Orla Mining by 992.0% during the 3rd quarter. Millennium Management LLC now owns 9,066,678 shares of the company’s stock valued at $97,814,000 after acquiring an additional 8,236,385 shares in the last quarter. Vanguard Group Inc. boosted its position 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 purchasing an additional 4,948,805 shares during the period. Franklin Resources Inc. boosted its position in Orla Mining by 1.0% during the 4th quarter. Franklin Resources Inc. now owns 7,686,849 shares of the company’s stock worth $103,386,000 after purchasing an additional 74,925 shares during the period. Finally, Amundi increased its holdings in 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 in the last quarter. 43.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Zacks Research downgraded shares of Orla Mining from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. TD Securities raised shares of Orla Mining from a “hold” rating to a “buy” rating in a research report on Wednesday, May 20th. Finally, TD Cowen upgraded 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 assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Orla Mining currently has a consensus rating of “Buy” and a consensus target price of $27.00.

Orla Mining Stock Performance

Shares of ORLA stock opened at $9.44 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.88 and a current ratio of 1.06. Orla Mining Ltd. has a one year low of $8.43 and a one year high of $21.98. The company’s 50-day simple moving average is $9.67 and its 200-day simple moving average is $13.48. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 13.88 and a beta of 0.28.

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.