Renaissance Technologies LLC Purchases 334,600 Shares of Orla Mining Ltd. $ORLA

Key Points

• Renaissance Technologies increased its Orla Mining stake by 32.1% in the first quarter, buying 334,600 additional shares and bringing its holdings to 1.38 million shares, or 0.40% of the company.
• Orla Mining shares opened at $8.94, down 1.9%, and remain well below their 52-week high of $21.98. Institutional investors and hedge funds collectively own 43.04% of the stock.
• Analyst sentiment remains generally positive: TD Securities and TD Cowen upgraded the stock to “buy,” while the consensus rating is “Buy” with an average price target of $27.00.

Renaissance Technologies LLC grew its holdings in Orla Mining Ltd. (NYSEAMERICAN:ORLA - Free Report) by 32.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,376,799 shares of the company's stock after acquiring an additional 334,600 shares during the quarter. Renaissance Technologies LLC owned 0.40% of Orla Mining worth $22,208,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Caitong International Asset Management Co. Ltd bought a new position in Orla Mining during the fourth quarter worth about $29,000. CIBC Private Wealth Group LLC bought a new stake in Orla Mining in the 3rd quarter valued at about $27,000. SBI Securities Co. Ltd. grew its position in shares of Orla Mining by 67.9% during the 4th quarter. SBI Securities Co. Ltd. now owns 4,672 shares of the company's stock worth $63,000 after purchasing an additional 1,889 shares in the last quarter. TD Waterhouse Canada Inc. grew its position in shares of Orla Mining by 197.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 5,313 shares of the company's stock worth $71,000 after purchasing an additional 3,524 shares in the last quarter. Finally, Osaic Holdings Inc. increased its holdings in shares of 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 purchasing an additional 4,584 shares during the period. 43.04% of the stock is currently owned by institutional investors and hedge funds.

Orla Mining Stock Down 1.9%

NYSEAMERICAN ORLA opened at $8.94 on Thursday. The business has a fifty day moving average price of $10.34 and a two-hundred day moving average price of $14.16. The stock has a market capitalization of $3.09 billion, a PE ratio of 13.15 and a beta of 0.28. Orla Mining Ltd. has a fifty-two week low of $8.43 and a fifty-two week high of $21.98. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.88.

Orla Mining Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Orla Mining 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.

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