1,071,537 Shares in Orla Mining Ltd. $ORLA Bought by Montrusco Bolton Investments Inc.

Key Points

• Montrusco Bolton Investments Inc. bought a new position of 1,071,537 shares in Orla Mining (ORLA) valued at about $14.43 million, representing roughly 0.32% of the company.
• Several large institutions—including Millennium Management, Vanguard, Jupiter Asset Management and Connor Clark & Lunn—dramatically increased their holdings, leaving institutional ownership at 43.04%.
• Analysts carry an average "Buy" rating with a mean price target of $27.00, while ORLA trades near $14.59 (market cap ≈ $5.05B), implying notable upside to the consensus target.

Montrusco Bolton Investments Inc. purchased a new position in Orla Mining Ltd. (NYSEAMERICAN:ORLA - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,071,537 shares of the company's stock, valued at approximately $14,430,000. Montrusco Bolton Investments Inc. owned about 0.32% of Orla Mining as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ORLA. Millennium Management LLC grew its holdings in Orla Mining by 992.0% in the 3rd quarter. Millennium Management LLC now owns 9,066,678 shares of the company's stock worth $97,814,000 after acquiring an additional 8,236,385 shares during the last quarter. Vanguard Group Inc. grew its holdings in Orla Mining by 1,628.2% in the 3rd quarter. Vanguard Group Inc. now owns 3,254,056 shares of the company's stock worth $35,095,000 after acquiring an additional 3,065,761 shares during the last quarter. Jupiter Asset Management Ltd. grew its holdings in Orla Mining by 25,866.2% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 2,791,369 shares of the company's stock worth $30,112,000 after acquiring an additional 2,780,619 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in 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 worth $78,194,000 after acquiring an additional 2,111,765 shares during the last quarter. Finally, Mudita Advisors LLP bought a new stake in Orla Mining in the 3rd quarter worth $15,119,000. Institutional investors own 43.04% of the company's stock.

Analyst Upgrades and Downgrades

ORLA has been the topic of a number of recent analyst reports. ATB Cormark Capital Markets raised shares of Orla Mining from a "hold" rating to a "moderate buy" rating in a report on Monday, February 23rd. Zacks Research lowered shares of Orla Mining from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 23rd. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of Orla Mining in a research note on Wednesday, February 4th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Orla Mining in a research note on Monday, January 26th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Orla Mining in a research note on Monday, January 26th. One research 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 MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $27.00.

Orla Mining Trading Up 2.0%

Shares of ORLA opened at $14.59 on Friday. The firm's 50-day moving average price is $16.99 and its 200-day moving average price is $14.71. The firm has a market capitalization of $5.05 billion, a price-to-earnings ratio of 56.12 and a beta of 0.37. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 0.52. Orla Mining Ltd. has a 1-year low of $8.50 and a 1-year high of $21.98.

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.

Want to see what other hedge funds are holding ORLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Orla Mining Ltd. (NYSEAMERICAN:ORLA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.