Orla Mining (NYSEAMERICAN:ORLA) Reaches New 1-Year High – Time to Buy?

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $14.59 and last traded at $14.4810, with a volume of 829191 shares changing hands. The stock had previously closed at $13.64.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Scotiabank reiterated an “outperform” rating on shares of Orla Mining in a report on Thursday, October 23rd. CIBC reaffirmed an “outperform” rating on shares of Orla Mining in a report on Monday, October 20th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Orla Mining in a research report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Orla Mining presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.00.

Orla Mining Stock Up 0.6%

The firm has a market cap of $4.82 billion, a PE ratio of 109.09 and a beta of 0.30. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.07 and a quick ratio of 0.88. The business has a fifty day moving average price of $12.09 and a two-hundred day moving average price of $11.21.

Orla Mining Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 10th. Stockholders of record on Monday, January 12th will be given 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 of this dividend is Monday, January 12th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Millennium Management LLC boosted its stake in shares of Orla Mining by 992.0% during the 3rd quarter. Millennium Management LLC now owns 9,066,678 shares of the company’s stock valued at $97,814,000 after buying an additional 8,236,385 shares during the period. Franklin Resources Inc. increased its stake in shares of Orla Mining by 18.3% in the third quarter. Franklin Resources Inc. now owns 7,611,924 shares of the company’s stock worth $82,079,000 after acquiring an additional 1,178,690 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Orla Mining by 41.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,251,539 shares of the company’s stock worth $78,194,000 after acquiring an additional 2,111,765 shares in the last quarter. Amundi boosted its position in Orla Mining by 35.5% during the third quarter. Amundi now owns 4,721,047 shares of the company’s stock valued at $54,481,000 after purchasing an additional 1,237,832 shares during the last quarter. Finally, TD Asset Management Inc increased its position in Orla Mining by 30.3% in the 3rd quarter. TD Asset Management Inc now owns 3,540,711 shares of the company’s stock worth $38,196,000 after purchasing an additional 823,331 shares during the last quarter. Institutional investors and hedge funds own 43.04% of the company’s stock.

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.