Orla Mining (NYSEAMERICAN:ORLA) Trading Down 8.1% – Here’s Why

Shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) were down 8.1% during trading on Monday . The stock traded as low as $12.53 and last traded at $12.3290. Approximately 697,631 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 2,586,480 shares. The stock had previously closed at $13.41.

Analyst Ratings Changes

Several equities research analysts have issued reports on ORLA shares. TD Cowen raised shares of Orla Mining from a “hold” rating to a “buy” rating in a research note on Wednesday, May 20th. ATB Cormark Capital Markets raised shares of Orla Mining from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 23rd. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Orla Mining in a research report on Wednesday, February 4th. Zacks Research raised shares of Orla Mining from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. Finally, TD Securities upgraded shares of Orla Mining from a “hold” rating to a “buy” rating in a research note on Wednesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $27.00.

Orla Mining Trading Down 6.9%

The stock has a market cap of $4.32 billion, a P/E ratio of 18.38 and a beta of 0.21. The company has a quick ratio of 0.88, a current ratio of 1.06 and a debt-to-equity ratio of 0.39. The firm’s 50 day simple moving average is $14.71 and its two-hundred day simple moving average is $15.15.

Orla Mining Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 26th will be given a $0.015 dividend. The ex-dividend date is Tuesday, May 26th. This represents a $0.06 annualized dividend and a yield of 0.5%. Orla Mining’s payout ratio is -599.40%.

Institutional Trading of Orla Mining

Several institutional investors and hedge funds have recently bought and sold shares of ORLA. Millennium Management LLC raised its holdings in Orla Mining by 45.8% during the 1st quarter. Millennium Management LLC now owns 594,177 shares of the company’s stock worth $5,555,000 after buying an additional 186,714 shares during the period. Goldman Sachs Group Inc. raised its holdings in Orla Mining by 14.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,061,455 shares of the company’s stock worth $9,925,000 after buying an additional 131,577 shares during the period. Geode Capital Management LLC raised its holdings in Orla Mining by 3.3% during the 2nd quarter. Geode Capital Management LLC now owns 124,405 shares of the company’s stock worth $1,255,000 after buying an additional 3,948 shares during the period. JPMorgan Chase & Co. raised its holdings in Orla Mining by 83,706.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 313,436 shares of the company’s stock worth $3,141,000 after buying an additional 313,062 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in Orla Mining by 21.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 30,058 shares of the company’s stock worth $301,000 after buying an additional 5,323 shares during the period. Institutional investors and hedge funds own 43.04% of the company’s stock.

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.