Orla Mining (NYSEAMERICAN:ORLA) Trading Up 9.1% – Here’s Why

Shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) shot up 9.1% during trading on Monday . The stock traded as high as $16.98 and last traded at $17.0130. 799,009 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 2,363,518 shares. The stock had previously closed at $15.60.

Analyst Ratings Changes

A number of research firms recently commented on ORLA. Scotiabank reiterated an “outperform” rating on shares of Orla Mining in a research report on Monday, January 26th. Natl Bk Canada raised Orla Mining to a “strong-buy” rating in a report on Monday, January 12th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Orla Mining in a report on Wednesday, February 4th. National Bankshares started coverage on shares of Orla Mining in a research note on Monday, January 12th. They set an “outperform” rating on the stock. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Orla Mining in a research note on Monday, January 26th. Two equities research analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to MarketBeat, Orla Mining has an average rating of “Buy” and an average target price of $27.00.

Orla Mining Price Performance

The company has a quick ratio of 0.88, a current ratio of 1.07 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $5.90 billion, a PE ratio of 133.39 and a beta of 0.30. The firm’s 50 day simple moving average is $14.69 and its 200 day simple moving average is $12.29.

Orla Mining Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 10th. Investors of record on Monday, January 12th will be issued a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, January 12th. Orla Mining’s dividend payout ratio is presently -599.40%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Geode Capital Management LLC grew its stake in shares of Orla Mining by 54.6% during the fourth quarter. Geode Capital Management LLC now owns 205,626 shares of the company’s stock valued at $2,817,000 after buying an additional 72,609 shares during the last quarter. Themes Management Co LLC purchased a new position in Orla Mining during the 4th quarter valued at $616,000. Leonteq Securities AG bought a new position in Orla Mining in the 4th quarter valued at $1,214,000. Gamco Investors INC. ET AL increased its stake in Orla Mining by 27.3% in the fourth quarter. Gamco Investors INC. ET AL now owns 82,945 shares of the company’s stock worth $1,117,000 after purchasing an additional 17,800 shares during the period. Finally, Gabelli Funds LLC increased its stake in Orla Mining by 67.2% in the fourth quarter. Gabelli Funds LLC now owns 1,882,700 shares of the company’s stock worth $25,360,000 after purchasing an additional 756,900 shares during the period. Hedge funds and other 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.