Brokerages Set Orla Mining Ltd. (NYSEAMERICAN:ORLA) PT at $27.00

Shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) have been assigned a consensus rating of “Buy” from the nine research firms that are presently covering the firm, MarketBeat reports. Seven analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $27.00.

ORLA has been the topic of several research analyst reports. TD Securities raised shares of Orla Mining from a “hold” rating to a “buy” rating in a research report on Wednesday, May 20th. TD Cowen raised shares of Orla Mining from a “hold” rating to a “buy” rating in a research report 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. Finally, Zacks Research raised shares of Orla Mining from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th.

Orla Mining Stock Down 3.5%

Shares of Orla Mining stock opened at $10.47 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.88 and a debt-to-equity ratio of 0.39. The company has a fifty day moving average price of $14.31 and a 200 day moving average price of $15.11. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of 15.40 and a beta of 0.21. Orla Mining has a twelve month low of $9.16 and a twelve month high of $21.98.

Orla Mining Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 26th were given a dividend of $0.015 per share. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $0.06 annualized dividend and a dividend yield of 0.6%. Orla Mining’s dividend payout ratio (DPR) is presently -599.40%.

Hedge Funds Weigh In On Orla Mining

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