Allspring Global Investments Holdings LLC Acquires 152,200 Shares of Orla Mining Ltd. $ORLA

Key Points

• Allspring Global Investments boosted its stake in Orla Mining by 9.7% in the first quarter, adding 152,200 shares to bring its total holdings to 1,714,700 shares, worth about $27.6 million.
• Wall Street sentiment is mostly positive: Orla Mining now has an average analyst rating of “Buy” and a consensus price target of $27.00, with several firms recently upgrading the stock.
• The stock was trading at $8.65, well below its 50-day and 200-day moving averages, while Orla Mining also pays a small quarterly dividend yielding about 0.7%.

Allspring Global Investments Holdings LLC lifted its holdings in Orla Mining Ltd. (NYSEAMERICAN:ORLA - Free Report) by 9.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,714,700 shares of the company's stock after acquiring an additional 152,200 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.50% of Orla Mining worth $27,579,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. CIBC Private Wealth Group LLC bought a new position in shares of Orla Mining during the third quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Orla Mining in the fourth quarter valued at approximately $29,000. SBI Securities Co. Ltd. grew its position in Orla Mining by 67.9% during the fourth quarter. SBI Securities Co. Ltd. now owns 4,672 shares of the company's stock worth $63,000 after buying an additional 1,889 shares in the last quarter. TD Waterhouse Canada Inc. grew its position in Orla Mining by 197.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 5,313 shares of the company's stock worth $71,000 after buying an additional 3,524 shares in the last quarter. Finally, Osaic Holdings Inc. grew its position in Orla Mining by 82.2% during the second quarter. Osaic Holdings Inc. now owns 10,161 shares of the company's stock worth $102,000 after buying an additional 4,584 shares in the last quarter. 43.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ORLA has been the subject of several analyst reports. TD Securities raised Orla Mining from a "hold" rating to a "buy" rating in a report on Wednesday, May 20th. Zacks Research lowered Orla Mining from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 16th. Finally, TD Cowen raised Orla Mining from a "hold" rating to a "buy" rating in a report on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $27.00.

Orla Mining Stock Performance

NYSEAMERICAN:ORLA opened at $8.65 on Tuesday. The stock's 50-day simple moving average is $10.95 and its 200 day simple moving average is $14.39. The firm has a market capitalization of $2.99 billion, a PE ratio of 12.72 and a beta of 0.28. The company has a quick ratio of 0.88, a current ratio of 1.06 and a debt-to-equity ratio of 0.39. Orla Mining Ltd. has a twelve month low of $8.43 and a twelve month high of $21.98.

Orla Mining Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, May 26th were paid a $0.015 dividend. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $0.06 annualized dividend and a yield of 0.7%. Orla Mining's dividend payout ratio is presently -599.40%.

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.

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