Orla Mining (NYSEAMERICAN:ORLA) Stock Price Up 4% – Here’s What Happened

Shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) shot up 4% during mid-day trading on Friday . The company traded as high as $14.47 and last traded at $14.3560. 343,019 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 2,265,866 shares. The stock had previously closed at $13.81.

Analyst Upgrades and Downgrades

ORLA has been the topic of several research reports. National Bank Financial started coverage on shares of Orla Mining in a research report on Monday, January 12th. They set an “outperform” rating on the stock. Zacks Research downgraded Orla Mining from a “strong-buy” rating to a “hold” rating in a research report on Monday. ATB Cormark Capital Markets upgraded shares of Orla Mining from a “hold” rating to a “moderate buy” rating in a report on Monday, February 23rd. BMO Capital Markets reissued an “outperform” rating on shares of Orla Mining in a research note on Monday, January 26th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Orla Mining in a report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Orla Mining has a consensus rating of “Buy” and a consensus target price of $27.00.

Orla Mining Stock Up 5.1%

The company’s fifty day simple moving average is $17.12 and its 200 day simple moving average is $13.94. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $5.02 billion, a P/E ratio of 55.85 and a beta of 0.23.

Institutional Investors Weigh In On Orla Mining

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ORLA. Sprott Inc. raised its holdings in Orla Mining by 1.8% in the fourth quarter. Sprott Inc. now owns 45,822 shares of the company’s stock worth $617,000 after purchasing an additional 799 shares in the last quarter. Parvin Asset Management LLC increased its stake in shares of Orla Mining by 1.2% in 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 in the last quarter. Neuberger Berman Group LLC lifted its position in Orla Mining by 13.9% during the 3rd quarter. Neuberger Berman Group LLC now owns 13,374 shares of the company’s stock valued at $144,000 after acquiring an additional 1,637 shares during the period. SBI Securities Co. Ltd. lifted its position 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 acquiring an additional 1,889 shares during the period. Finally, Mariner LLC boosted its stake in Orla Mining by 15.3% during the fourth quarter. Mariner LLC now owns 14,929 shares of the company’s stock worth $201,000 after acquiring an additional 1,976 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.