Royal Bank of Canada Lowers Stock Position in Orla Mining Ltd. $ORLA

Royal Bank of Canada cut its stake in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) by 12.5% in the 1st quarter, HoldingsChannel reports. The firm owned 5,790,100 shares of the company’s stock after selling 829,097 shares during the period. Royal Bank of Canada’s holdings in Orla Mining were worth $93,394,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Themes Management Co LLC increased its holdings in shares of Orla Mining by 22.2% in the 1st quarter. Themes Management Co LLC now owns 55,953 shares of the company’s stock worth $900,000 after buying an additional 10,155 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Orla Mining during the 1st quarter worth $1,155,000. Renaissance Technologies LLC lifted its holdings in shares of Orla Mining by 32.1% during the 1st quarter. Renaissance Technologies LLC now owns 1,376,799 shares of the company’s stock worth $22,208,000 after acquiring an additional 334,600 shares during the last quarter. Gamco Investors INC. ET AL grew its position in Orla Mining by 41.5% in the first quarter. Gamco Investors INC. ET AL now owns 117,380 shares of the company’s stock worth $1,893,000 after acquiring an additional 34,435 shares in the last quarter. Finally, State of Wyoming grew its position in Orla Mining by 296.6% in the first quarter. State of Wyoming now owns 25,411 shares of the company’s stock worth $410,000 after acquiring an additional 19,004 shares in the last quarter. Hedge funds and other institutional investors own 43.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ORLA shares. Zacks Research downgraded Orla Mining from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. TD Securities upgraded Orla Mining from a “hold” rating to a “buy” rating in a report on Wednesday, May 20th. Finally, TD Cowen upgraded Orla Mining from a “hold” rating to a “buy” rating in a report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $27.00.

Orla Mining Price Performance

ORLA stock opened at $9.39 on Friday. The firm has a market cap of $3.25 billion, a P/E ratio of 13.80 and a beta of 0.28. The firm’s fifty day moving average is $10.23 and its 200 day moving average is $14.10. Orla Mining Ltd. has a 52 week low of $8.43 and a 52 week high of $21.98. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 26th were given a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 0.6%. The ex-dividend date was Tuesday, May 26th. Orla Mining’s dividend payout ratio is presently -599.40%.

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.