Orla Mining (NYSEAMERICAN:ORLA) Sets New 52-Week Low – What’s Next?

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s share price hit a new 52-week low during trading on Thursday . The stock traded as low as $8.94 and last traded at $8.9950, with a volume of 283269 shares changing hands. The stock had previously closed at $9.34.

Analyst Ratings Changes

A number of research firms have recently weighed in on ORLA. TD Securities raised shares of Orla Mining from a “hold” rating to a “buy” rating in a research report on Wednesday, May 20th. Zacks Research downgraded shares of Orla Mining from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. Finally, TD Cowen upgraded Orla Mining from a “hold” rating to a “buy” rating in a report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $27.00.

Orla Mining Trading Down 5.6%

The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.88 and a current ratio of 1.06. The stock’s fifty day moving average is $11.31 and its 200 day moving average is $14.50. The stock has a market cap of $3.05 billion, a P/E ratio of 12.92 and a beta of 0.28.

Orla Mining Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, May 26th were paid a $0.015 dividend. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $0.06 annualized dividend and a yield of 0.7%. Orla Mining’s dividend payout ratio is -599.40%.

Hedge Funds Weigh In On Orla Mining

Institutional investors have recently bought and sold shares of the business. CIBC Private Wealth Group LLC acquired a new position in Orla Mining during the 3rd quarter valued at about $27,000. Caitong International Asset Management Co. Ltd purchased a new stake in Orla Mining during the fourth quarter worth $29,000. Optiver Holding B.V. acquired a new stake in shares of Orla Mining during the 1st quarter valued at about $40,000. SBI Securities Co. Ltd. increased its position 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 buying an additional 1,889 shares in the last quarter. Finally, TD Waterhouse Canada Inc. lifted its holdings in Orla Mining by 197.0% during the fourth 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 in the last quarter. 43.04% of the stock is 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.