Orla Mining Ltd. (NYSEAMERICAN:ORLA) Receives Consensus Rating of “Buy” from Brokerages

Orla Mining Ltd. (NYSEAMERICAN:ORLA) has been assigned an average recommendation of “Buy” from the nine research firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $27.00.

Several equities analysts have weighed in on ORLA shares. TD Securities raised Orla Mining from a “hold” rating to a “buy” rating in a research report on Wednesday, May 20th. TD Cowen upgraded Orla Mining from a “hold” rating to a “buy” rating in a research report on Wednesday, May 20th. Finally, Zacks Research lowered Orla Mining from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th.

Orla Mining Price Performance

Shares of Orla Mining stock traded down $0.39 during trading on Tuesday, hitting $9.91. 985,344 shares of the company were exchanged, compared to its average volume of 2,825,110. 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 has a fifty-two week low of $9.16 and a fifty-two week high of $21.98. The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of 14.60 and a beta of 0.28. The firm has a 50 day moving average price of $11.90 and a 200 day moving average price of $14.74.

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 was Tuesday, May 26th. Orla Mining’s dividend payout ratio is -599.40%.

Institutional Investors Weigh In On Orla Mining

Hedge funds and other institutional investors have recently modified their holdings of the company. Optiver Holding B.V. acquired a new stake in Orla Mining during the first quarter worth approximately $40,000. Groupama Asset Managment raised its holdings in Orla Mining by 2.2% in the 1st quarter. Groupama Asset Managment now owns 454,122 shares of the company’s stock valued at $7,325,000 after acquiring an additional 9,980 shares during the last quarter. Groupe la Francaise lifted its stake in shares of Orla Mining by 80.0% during the 1st quarter. Groupe la Francaise now owns 1,260,000 shares of the company’s stock worth $20,195,000 after purchasing an additional 560,000 shares during the period. Parvin Asset Management LLC lifted its stake in shares of Orla Mining by 3.7% during the 1st quarter. Parvin Asset Management LLC now owns 73,075 shares of the company’s stock worth $1,179,000 after purchasing an additional 2,575 shares during the period. Finally, Themes Management Co LLC boosted its holdings in shares of Orla Mining by 22.2% during the first quarter. Themes Management Co LLC now owns 55,953 shares of the company’s stock worth $900,000 after purchasing an additional 10,155 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.