Allspring Global Investments Holdings LLC Grows Position in Orla Mining Ltd. $ORLA

Allspring Global Investments Holdings LLC lifted its position in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) by 29.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,562,500 shares of the company’s stock after purchasing an additional 354,000 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.46% of Orla Mining worth $21,015,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Millennium Management LLC lifted its position in Orla Mining by 992.0% during 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. Franklin Resources Inc. increased its stake in shares of Orla Mining by 18.3% in the 3rd quarter. Franklin Resources Inc. now owns 7,611,924 shares of the company’s stock worth $82,079,000 after acquiring an additional 1,178,690 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Orla Mining by 41.1% during 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. Amundi lifted its position in Orla Mining by 35.5% during the 3rd quarter. Amundi now owns 4,721,047 shares of the company’s stock valued at $54,481,000 after acquiring an additional 1,237,832 shares during the period. Finally, TD Asset Management Inc boosted its stake in Orla Mining by 30.3% during the third quarter. TD Asset Management Inc now owns 3,540,711 shares of the company’s stock worth $38,196,000 after acquiring an additional 823,331 shares in the last quarter. 43.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Orla Mining in a research note on Wednesday, February 4th. ATB Cormark Capital Markets upgraded Orla Mining from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 23rd. National Bank Financial initiated coverage on Orla Mining in a research report on Monday, January 12th. They set an “outperform” rating for the company. Zacks Research cut Orla Mining from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 23rd. Finally, Scotiabank reissued an “outperform” rating on shares of Orla Mining in a report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $27.00.

Orla Mining Price Performance

Shares of ORLA stock opened at $17.04 on Friday. The company has a 50 day simple moving average of $17.07 and a two-hundred day simple moving average of $14.12. The stock has a market cap of $5.89 billion, a P/E ratio of 65.54 and a beta of 0.37. Orla Mining Ltd. has a 12 month low of $7.08 and a 12 month high of $21.98. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 0.52.

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.