Orla Mining (NYSEAMERICAN:ORLA) Stock Rating Lowered by Zacks Research

Orla Mining (NYSEAMERICAN:ORLA) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

A number of other research analysts have also weighed in on ORLA. ATB Cormark Capital Markets raised Orla Mining from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 23rd. TD Securities raised Orla Mining from a “hold” rating to a “buy” rating in a research report on Wednesday, May 20th. Finally, TD Cowen raised Orla Mining from a “hold” rating to a “buy” rating in a research report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $27.00.

Orla Mining Stock Down 3.8%

ORLA stock opened at $11.13 on Tuesday. Orla Mining has a twelve month low of $9.16 and a twelve month high of $21.98. 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 has a market cap of $3.85 billion, a PE ratio of 16.37 and a beta of 0.21. The business has a 50 day moving average of $13.63 and a 200 day moving average of $15.04.

Institutional Trading of Orla Mining

Several institutional investors have recently added to or reduced their stakes in ORLA. Van ECK Associates Corp boosted its stake in Orla Mining by 279.9% during the 4th quarter. Van ECK Associates Corp now owns 19,391,604 shares of the company’s stock valued at $261,201,000 after purchasing an additional 14,287,477 shares during the last quarter. Millennium Management LLC boosted its stake in Orla Mining by 992.0% during the 3rd 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. boosted its stake in Orla Mining by 152.1% during the 4th 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 last quarter. Invesco Ltd. boosted its stake in Orla Mining by 994.7% during the 4th 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 last quarter. Finally, Jupiter Asset Management Ltd. boosted its stake in Orla Mining by 25,866.2% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 2,791,369 shares of the company’s stock valued at $30,112,000 after purchasing an additional 2,780,619 shares during the last quarter. 43.04% of the stock is currently owned by hedge funds and other 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.