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

Orla Mining Ltd. (NYSEAMERICAN:ORLA) hit a new 52-week high during trading on Tuesday . The stock traded as high as $14.98 and last traded at $15.2050, with a volume of 1253 shares traded. The stock had previously closed at $14.75.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ORLA shares. Royal Bank Of Canada restated an “outperform” rating on shares of Orla Mining in a research note on Tuesday, October 21st. Scotiabank restated an “outperform” rating on shares of Orla Mining in a research report on Thursday, October 23rd. CIBC restated an “outperform” rating on shares of Orla Mining in a report on Monday, October 20th. Finally, National Bankshares began coverage on shares of Orla Mining in a research note on Monday. They issued an “outperform” rating for the company. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $27.00.

Orla Mining Stock Performance

The company has a current ratio of 1.07, a quick ratio of 0.88 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $5.14 billion, a price-to-earnings ratio of 117.18 and a beta of 0.30. The stock has a fifty day moving average price of $12.97 and a 200-day moving average price of $11.57.

Orla Mining Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 10th. Shareholders of record on Monday, January 12th will be issued a dividend of $0.015 per share. The ex-dividend date of this dividend is Monday, January 12th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.4%.

Institutional Investors Weigh In On Orla Mining

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

About Orla Mining

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.