Orla Mining (NYSEAMERICAN:ORLA) Trading Up 9.1% – Here’s Why

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s stock price rose 9.1% on Monday . The company traded as high as $16.98 and last traded at $17.0130. Approximately 799,009 shares were traded during trading, a decline of 66% from the average daily volume of 2,363,518 shares. The stock had previously closed at $15.60.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Scotiabank reaffirmed an “outperform” rating on shares of Orla Mining in a report on Monday, January 26th. BMO Capital Markets restated an “outperform” rating on shares of Orla Mining in a report on Monday, January 26th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Orla Mining in a report on Tuesday, October 21st. National Bank Financial initiated coverage on Orla Mining in a research report on Monday, January 12th. They issued an “outperform” rating for the company. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Orla Mining in a report on Wednesday, February 4th. Two research analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $27.00.

Orla Mining Stock Down 0.9%

The firm has a market cap of $5.87 billion, a P/E ratio of 132.70 and a beta of 0.30. 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’s 50 day moving average is $14.91 and its two-hundred day moving average is $12.42.

Orla Mining Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 10th. Stockholders of record on Monday, January 12th were paid a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, January 12th. Orla Mining’s dividend payout ratio (DPR) is currently -599.40%.

Institutional Trading of Orla Mining

A number of institutional investors have recently made changes to their positions in the business. Parvin Asset Management LLC increased its holdings in shares of Orla Mining by 2.2% during the 3rd quarter. Parvin Asset Management LLC now owns 69,675 shares of the company’s stock worth $752,000 after acquiring an additional 1,475 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in Orla Mining by 13.9% in the 3rd quarter. Neuberger Berman Group LLC now owns 13,374 shares of the company’s stock valued at $144,000 after purchasing an additional 1,637 shares during the period. TD Waterhouse Canada Inc. grew its stake in shares of Orla Mining by 50.0% in the second 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 in the last quarter. SBI Securities Co. Ltd. increased its position in Orla Mining by 67.9% during the fourth quarter. SBI Securities Co. Ltd. now owns 4,672 shares of the company’s stock worth $63,000 after acquiring an additional 1,889 shares during the period. Finally, CIBC Private Wealth Group LLC bought a new position in Orla Mining during the third quarter worth about $27,000. Institutional investors 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.