Orla Mining (NYSEAMERICAN:ORLA) Hits New 12-Month High – What’s Next?

Orla Mining Ltd. (NYSEAMERICAN:ORLA) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $20.10 and last traded at $19.7950, with a volume of 264713 shares trading hands. The stock had previously closed at $19.74.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Scotiabank reissued an “outperform” rating on shares of Orla Mining in a report on Monday, January 26th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Orla Mining in a research note on Wednesday, February 4th. ATB Cormark Capital Markets raised Orla Mining from a “hold” rating to a “moderate buy” rating in a report on Monday. Zacks Research upgraded Orla Mining from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 11th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Orla Mining in a research report on Monday, January 26th. Three equities research analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $27.00.

Orla Mining Stock Up 2.6%

The company has a market capitalization of $6.97 billion, a price-to-earnings ratio of 155.55 and a beta of 0.30. The business’s 50-day moving average is $15.78 and its 200-day moving average is $12.95. The company has a quick ratio of 0.88, a current ratio of 1.07 and a debt-to-equity ratio of 0.66.

Orla Mining Dividend Announcement

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

Hedge Funds Weigh In On Orla Mining

Several institutional investors and hedge funds have recently modified their holdings of the business. Sprott Inc. boosted its stake in Orla Mining by 1.8% during the fourth quarter. Sprott Inc. now owns 45,822 shares of the company’s stock worth $617,000 after buying an additional 799 shares during the last quarter. Parvin Asset Management LLC raised its holdings in shares of Orla Mining by 1.2% during the 4th quarter. Parvin Asset Management LLC now owns 70,500 shares of the company’s stock worth $950,000 after acquiring an additional 825 shares during the period. Neuberger Berman Group LLC raised its holdings in shares of Orla Mining by 13.9% during the 3rd quarter. Neuberger Berman Group LLC now owns 13,374 shares of the company’s stock worth $144,000 after acquiring an additional 1,637 shares during the period. TD Waterhouse Canada Inc. boosted its position in shares of Orla Mining by 50.0% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 5,368 shares of the company’s stock valued at $53,000 after acquiring an additional 1,789 shares during the last quarter. Finally, SBI Securities Co. Ltd. grew its holdings in shares of Orla Mining by 67.9% in the fourth quarter. SBI Securities Co. Ltd. now owns 4,672 shares of the company’s stock valued at $63,000 after purchasing an additional 1,889 shares during the period. Hedge funds and other institutional investors 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.