Gabelli Funds LLC Buys 250,000 Shares of Orla Mining Ltd. $ORLA

Key Points

• Gabelli Funds LLC increased its holdings in Orla Mining by 100%, acquiring an additional 250,000 shares, bringing its total to 500,000 shares valued at approximately $4.675 million.
• Other institutional investors, including Allspring Global Investments and Renaissance Technologies, also significantly increased their stakes in Orla Mining during recent quarters, reflecting growing institutional interest.
• Orla Mining's stock has a consensus price target of $14.50 and has received ratings ranging from Strong Buy to Hold from various analysts, indicating positive market sentiment.

Gabelli Funds LLC increased its position in Orla Mining Ltd. (NYSEAMERICAN:ORLA - Free Report) by 100.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 500,000 shares of the company's stock after buying an additional 250,000 shares during the quarter. Gabelli Funds LLC owned 0.16% of Orla Mining worth $4,675,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mariner LLC acquired a new stake in Orla Mining during the 4th quarter valued at approximately $58,000. Two Sigma Advisers LP acquired a new stake in Orla Mining during the 4th quarter valued at approximately $84,000. Banque Cantonale Vaudoise acquired a new stake in Orla Mining during the 1st quarter valued at approximately $86,000. Gotham Asset Management LLC increased its position in Orla Mining by 11.8% during the 4th quarter. Gotham Asset Management LLC now owns 19,393 shares of the company's stock valued at $107,000 after purchasing an additional 2,048 shares during the period. Finally, Parvin Asset Management LLC acquired a new stake in Orla Mining during the 4th quarter valued at approximately $136,000. Institutional investors and hedge funds own 43.04% of the company's stock.

Orla Mining Trading Up 1.9%

Shares of ORLA traded up $0.22 during mid-day trading on Wednesday, hitting $11.57. 309,473 shares of the company's stock traded hands, compared to its average volume of 1,328,327. The company has a quick ratio of 0.66, a current ratio of 0.85 and a debt-to-equity ratio of 0.76. Orla Mining Ltd. has a 1 year low of $3.81 and a 1 year high of $12.83. The firm has a market capitalization of $3.77 billion, a P/E ratio of 231.23 and a beta of 0.35. The business's 50-day moving average price is $10.45 and its 200-day moving average price is $9.73.

Analysts Set New Price Targets

Separately, CIBC reissued an "outperform" rating on shares of Orla Mining in a research report on Tuesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Orla Mining currently has an average rating of "Buy" and an average target price of $14.50.

About Orla Mining

Orla Mining Ltd. acquires, explores, develops, and exploits mineral properties. The company explores for gold, silver, zinc, lead, and copper deposits. It owns 100% interests in the Camino Rojo project that consists of seven concessions covering an area of 138,636 hectares located in Zacatecas, Mexico; Cerro Quema project totaling an area of 15,000 hectares located in the Azuero Peninsula, Panama; and the South Railroad project consisting of an area of 21,000 hectares located in Elko, Nevada.