Orla Mining (NYSEAMERICAN:ORLA) Reaches New 52-Week High on Analyst Upgrade

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s stock price reached a new 52-week high during mid-day trading on Tuesday after Natl Bk Canada upgraded the stock to a strong-buy rating. The stock traded as high as $14.98 and last traded at $15.2050, with a volume of 1253 shares. The stock had previously closed at $14.75.

A number of other equities research analysts have also recently commented on ORLA. Scotiabank reiterated an “outperform” rating on shares of Orla Mining in a report on Thursday, October 23rd. Royal Bank Of Canada restated an “outperform” rating on shares of Orla Mining in a research report on Tuesday, October 21st. CIBC reiterated an “outperform” rating on shares of Orla Mining in a research report on Monday, October 20th. Finally, National Bankshares initiated coverage on shares of Orla Mining in a research note on Monday. They issued an “outperform” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Orla Mining currently has a consensus rating of “Buy” and an average price target of $27.00.

Institutional Trading of Orla Mining

A number of institutional investors and hedge funds have recently made changes to their positions in the company. CIBC Private Wealth Group LLC acquired a new stake in Orla Mining during the third quarter worth about $27,000. IFP Advisors Inc increased its position in Orla Mining by 191.6% during the 2nd quarter. IFP Advisors Inc now owns 3,981 shares of the company’s stock worth $40,000 after purchasing an additional 2,616 shares in the last quarter. TD Waterhouse Canada Inc. raised its stake in shares of Orla Mining by 50.0% in 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 period. Farther Finance Advisors LLC purchased a new position in Orla Mining in the third quarter valued at about $58,000. Finally, 111 Capital acquired a new position in Orla Mining during the 2nd quarter worth approximately $102,000. 43.04% of the stock is currently owned by institutional investors and hedge funds.

Orla Mining Stock Performance

The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.88 and a current ratio of 1.07. The stock has a fifty day simple moving average of $13.19 and a two-hundred day simple moving average of $11.64. The stock has a market cap of $4.98 billion, a PE ratio of 112.70 and a beta of 0.30.

Orla Mining Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 10th. Stockholders of record on Monday, January 12th will be paid a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, January 12th. Orla Mining’s dividend payout ratio is -599.40%.

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.