Orla Mining Ltd. (NYSEAMERICAN:ORLA) Receives $27.00 Average PT from Analysts

Orla Mining Ltd. (NYSEAMERICAN:ORLA) has received a consensus rating of “Buy” from the nine ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $27.00.

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

Orla Mining Stock Up 2.5%

ORLA stock opened at $9.49 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. Orla Mining has a 1 year low of $8.43 and a 1 year high of $21.98. The company has a fifty day simple moving average of $10.47 and a 200 day simple moving average of $14.24. The firm has a market cap of $3.28 billion, a PE ratio of 13.96 and a beta of 0.28.

Orla Mining Dividend Announcement

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

Hedge Funds Weigh In On Orla Mining

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

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.