Royal Bank of Canada Cuts Stake in Orla Mining Ltd. $ORLA

Royal Bank of Canada trimmed its stake in Orla Mining Ltd. (NYSEAMERICAN:ORLA - Free Report) by 12.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,790,100 shares of the company's stock after selling 829,097 shares during the quarter. Royal Bank of Canada owned approximately 1.67% of Orla Mining worth $93,394,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Van ECK Associates Corp raised its holdings in shares of Orla Mining by 279.9% in the 4th quarter. Van ECK Associates Corp now owns 19,391,604 shares of the company's stock worth $261,201,000 after purchasing an additional 14,287,477 shares during the period. Millennium Management LLC lifted its stake in Orla Mining by 992.0% in the third quarter. Millennium Management LLC now owns 9,066,678 shares of the company's stock valued at $97,814,000 after purchasing an additional 8,236,385 shares during the last quarter. Vanguard Group Inc. grew its holdings in Orla Mining by 152.1% during the fourth quarter. Vanguard Group Inc. now owns 8,202,861 shares of the company's stock valued at $110,320,000 after purchasing an additional 4,948,805 shares during the period. Invesco Ltd. grew its holdings in Orla Mining by 994.7% during the fourth quarter. Invesco Ltd. now owns 3,539,392 shares of the company's stock valued at $47,676,000 after purchasing an additional 3,216,068 shares during the period. Finally, Norges Bank purchased a new stake in Orla Mining in the fourth quarter worth $34,756,000. 43.04% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on ORLA. TD Cowen upgraded Orla Mining from a "hold" rating to a "buy" rating in a research note on Wednesday, May 20th. TD Securities raised Orla Mining from a "hold" rating to a "buy" rating in a report on Wednesday, May 20th. Finally, Zacks Research lowered Orla Mining from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $27.00.

Orla Mining Trading Down 0.6%

Orla Mining stock opened at $9.39 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.88 and a current ratio of 1.06. Orla Mining Ltd. has a fifty-two week low of $8.43 and a fifty-two week high of $21.98. The stock has a market cap of $3.25 billion, a P/E ratio of 13.80 and a beta of 0.28. The firm's fifty day moving average price is $10.23 and its 200-day moving average price is $14.10.

Orla Mining Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 26th were paid a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Tuesday, May 26th. Orla Mining's dividend payout ratio is currently -599.40%.

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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