Orla Mining (NYSEAMERICAN:ORLA) Hits New 12-Month High – Here’s What Happened

Orla Mining Ltd. (NYSEAMERICAN:ORLA) shares reached a new 52-week high on Tuesday . The company traded as high as $16.46 and last traded at $16.5780, with a volume of 539422 shares. The stock had previously closed at $14.73.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ORLA. National Bankshares assumed coverage on shares of Orla Mining in a research note on Monday, January 12th. They set an “outperform” rating on the stock. Scotiabank restated an “outperform” rating on shares of Orla Mining in a research report on Thursday, October 23rd. Natl Bk Canada raised shares of Orla Mining to a “strong-buy” rating in a report on Monday, January 12th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Orla Mining in a report on Tuesday, October 21st. Finally, CIBC reaffirmed an “outperform” rating on shares of Orla Mining in a report on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $27.00.

Orla Mining Price Performance

The stock has a market capitalization of $5.82 billion, a P/E ratio of 131.32 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 stock’s fifty day moving average is $13.47 and its 200-day moving average is $11.75.

Orla Mining Dividend Announcement

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 given a $0.015 dividend. This represents a $0.06 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, January 12th. Orla Mining’s dividend payout ratio (DPR) is presently -599.40%.

Institutional Investors Weigh In On Orla Mining

A number of hedge funds have recently modified their holdings of ORLA. CIBC Private Wealth Group LLC bought a new stake in Orla Mining during the third quarter worth $27,000. IFP Advisors Inc boosted its stake in shares of Orla Mining by 191.6% in the 2nd quarter. IFP Advisors Inc now owns 3,981 shares of the company’s stock valued at $40,000 after purchasing an additional 2,616 shares in the last quarter. TD Waterhouse Canada Inc. grew its position in Orla Mining by 50.0% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 5,368 shares of the company’s stock worth $53,000 after acquiring an additional 1,789 shares during the last quarter. Farther Finance Advisors LLC bought a new stake in Orla Mining during the 3rd quarter worth approximately $58,000. Finally, 111 Capital acquired a new stake in shares of Orla Mining in the second quarter valued at about $102,000. 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.