Orla Mining Ltd. (NYSEAMERICAN:ORLA) Receives Consensus Recommendation of “Buy” from Brokerages

Orla Mining Ltd. (NYSEAMERICAN:ORLA) has been assigned an average recommendation of “Buy” from the nine ratings firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $27.00.

ORLA has been the topic of several analyst reports. TD Cowen raised shares of Orla Mining from a “hold” rating to a “buy” rating in a research note on Wednesday, May 20th. Zacks Research lowered shares of Orla Mining from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Finally, TD Securities upgraded shares of Orla Mining from a “hold” rating to a “buy” rating in a research report on Wednesday, May 20th.

Orla Mining Stock Down 0.6%

Shares of NYSEAMERICAN ORLA opened at $9.39 on Friday. The stock has a market capitalization of $3.25 billion, a P/E ratio of 13.80 and a beta of 0.28. Orla Mining has a one year low of $8.43 and a one year high of $21.98. The firm’s 50 day simple moving average is $10.23 and its two-hundred day simple moving average is $14.10. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.88.

Orla Mining Announces Dividend

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

Hedge Funds Weigh In On Orla Mining

A number of institutional investors have recently bought and sold shares of ORLA. Ausbil Investment Management Ltd purchased a new stake in Orla Mining in the second quarter worth about $564,000. Optiver Holding B.V. purchased a new position in shares of Orla Mining during the 1st quarter worth approximately $40,000. Groupama Asset Managment grew its holdings in shares of Orla Mining by 2.2% during the 1st quarter. Groupama Asset Managment now owns 454,122 shares of the company’s stock worth $7,325,000 after acquiring an additional 9,980 shares during the period. Groupe la Francaise raised its position in shares of Orla Mining by 80.0% in the 1st quarter. Groupe la Francaise now owns 1,260,000 shares of the company’s stock worth $20,195,000 after acquiring an additional 560,000 shares in the last quarter. Finally, Parvin Asset Management LLC raised its position in shares of Orla Mining by 3.7% in the 1st quarter. Parvin Asset Management LLC now owns 73,075 shares of the company’s stock worth $1,179,000 after acquiring an additional 2,575 shares in the last quarter. 43.04% of the stock is owned by 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.