Orla Mining (NYSEAMERICAN:ORLA) Sets New 12-Month Low – Should You Sell?

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $9.15 and last traded at $9.2050, with a volume of 2068460 shares. The stock had previously closed at $9.77.

Analyst Ratings Changes

Several equities analysts have commented on the stock. TD Securities raised shares of Orla Mining from a “hold” rating to a “buy” rating in a report on Wednesday, May 20th. Zacks Research lowered shares of Orla Mining from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Finally, TD Cowen raised shares of Orla Mining from a “hold” rating to a “buy” rating in a research note on Wednesday, May 20th. One 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. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $27.00.

Orla Mining Trading Down 4.0%

The business’s 50 day simple moving average is $11.81 and its two-hundred day simple moving average is $14.71. The stock has a market cap of $3.25 billion, a P/E ratio of 13.80 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 Dividend Announcement

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

Hedge Funds Weigh In On Orla Mining

Several large investors have recently bought and sold shares of ORLA. Van ECK Associates Corp grew its holdings in shares of Orla Mining by 279.9% during the fourth 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 last quarter. Millennium Management LLC raised its holdings in Orla Mining by 992.0% in the 3rd quarter. Millennium Management LLC now owns 9,066,678 shares of the company’s stock valued at $97,814,000 after buying an additional 8,236,385 shares during the last quarter. Vanguard Group Inc. boosted its position in Orla Mining by 152.1% during the 4th quarter. Vanguard Group Inc. now owns 8,202,861 shares of the company’s stock worth $110,320,000 after buying an additional 4,948,805 shares during the period. Invesco Ltd. boosted its position in Orla Mining by 994.7% during the 4th quarter. Invesco Ltd. now owns 3,539,392 shares of the company’s stock worth $47,676,000 after buying an additional 3,216,068 shares during the period. Finally, Norges Bank bought a new stake in Orla Mining during the 4th quarter worth approximately $34,756,000. 43.04% of the stock is currently owned by institutional investors.

Orla Mining Company 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.