Legal & General Group Plc Makes New $8.12 Million Investment in Orla Mining Ltd. $ORLA

Legal & General Group Plc bought a new position in Orla Mining Ltd. (NYSEAMERICAN:ORLA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 830,822 shares of the company’s stock, valued at approximately $8,122,000.

A number of other institutional investors have also modified their holdings of ORLA. Renaissance Technologies LLC increased its holdings in Orla Mining by 32.1% in the first quarter. Renaissance Technologies LLC now owns 1,376,799 shares of the company’s stock valued at $22,208,000 after buying an additional 334,600 shares during the last quarter. Vanguard Group Inc. lifted its holdings 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 buying an additional 4,948,805 shares during the last quarter. Gabelli Funds LLC lifted its holdings in Orla Mining by 67.2% during the 4th quarter. Gabelli Funds LLC now owns 1,882,700 shares of the company’s stock worth $25,360,000 after buying an additional 756,900 shares during the last quarter. Groupe la Francaise lifted its holdings in Orla Mining by 80.0% during the 1st quarter. Groupe la Francaise now owns 1,260,000 shares of the company’s stock worth $20,195,000 after buying an additional 560,000 shares during the last quarter. Finally, U S Global Investors Inc. acquired a new position in shares of Orla Mining in the 1st quarter worth approximately $3,966,000. Institutional investors and hedge funds own 43.04% of the company’s stock.

Orla Mining Stock Performance

Orla Mining stock opened at $9.44 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 1.06 and a debt-to-equity ratio of 0.39. The firm has a 50-day moving average price of $9.45 and a two-hundred day moving average price of $13.01. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of 13.88 and a beta of 0.28. Orla Mining Ltd. has a 52-week low of $8.43 and a 52-week high of $21.98.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ORLA. TD Securities upgraded Orla Mining from a “hold” rating to a “buy” rating in a report on Wednesday, May 20th. Zacks Research cut Orla Mining from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. Finally, TD Cowen raised shares of Orla Mining from a “hold” rating to a “buy” rating in a report 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 given a Hold rating to the stock. Based on data from MarketBeat, Orla Mining has a consensus 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.