Orla Mining (NYSEAMERICAN:ORLA) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Orla Mining (NYSEAMERICAN:ORLA) from a hold rating to a strong-buy rating in a research report sent to investors on Monday morning,Zacks.com reports.

Other equities analysts have also issued reports about the company. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Orla Mining in a report on Wednesday, February 4th. BMO Capital Markets reissued an “outperform” rating on shares of Orla Mining in a report on Monday, January 26th. Scotiabank reissued an “outperform” rating on shares of Orla Mining in a report on Monday, January 26th. Finally, ATB Cormark Capital Markets raised Orla Mining from a “hold” rating to a “moderate buy” rating in a report on Monday, February 23rd. Two investment analysts have rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $27.00.

Orla Mining Stock Down 6.4%

NYSEAMERICAN:ORLA opened at $12.17 on Monday. The firm has a market capitalization of $4.21 billion, a PE ratio of 17.90 and a beta of 0.20. The stock has a 50 day moving average of $15.42 and a 200-day moving average of $15.02. Orla Mining has a 52 week low of $9.16 and a 52 week high of $21.98. 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 26th will be given a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Tuesday, May 26th. Orla Mining’s dividend payout ratio is -599.40%.

Institutional Investors Weigh In On Orla Mining

A number of institutional investors have recently added to or reduced their stakes in ORLA. CIBC Private Wealth Group LLC acquired a new stake in Orla Mining in the third quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Orla Mining during the 4th quarter valued at $29,000. SBI Securities Co. Ltd. raised its stake in Orla Mining by 67.9% during the 4th 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. TD Waterhouse Canada Inc. raised its stake in Orla Mining by 197.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 5,313 shares of the company’s stock valued at $71,000 after purchasing an additional 3,524 shares during the period. Finally, Osaic Holdings Inc. raised its stake in Orla Mining by 82.2% during the 2nd quarter. Osaic Holdings Inc. now owns 10,161 shares of the company’s stock valued at $102,000 after purchasing an additional 4,584 shares during the period. 43.04% of the stock is currently owned by institutional investors and hedge funds.

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.