Orla Mining (NYSEAMERICAN:ORLA) Upgraded by Zacks Research to “Strong-Buy” Rating

Orla Mining (NYSEAMERICAN:ORLA) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

ORLA has been the topic of a number of other reports. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Orla Mining in a research note on Wednesday, February 4th. Scotiabank reaffirmed an “outperform” rating on shares of Orla Mining in a research note on Monday, January 26th. ATB Cormark Capital Markets raised Orla Mining from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 23rd. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Orla Mining in a research note on Monday, January 26th. Two equities research analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $27.00.

Orla Mining Stock Down 6.4%

Shares of ORLA opened at $12.17 on Monday. The company has a current ratio of 1.06, a quick ratio of 0.88 and a debt-to-equity ratio of 0.39. The stock’s 50 day moving average is $15.42 and its two-hundred day moving average is $15.02. The firm has a market cap of $4.21 billion, a P/E ratio of 17.90 and a beta of 0.20. Orla Mining has a 12 month low of $9.16 and a 12 month high of $21.98.

Institutional Investors Weigh In On Orla Mining

Several institutional investors and hedge funds have recently modified their holdings of ORLA. Van ECK Associates Corp raised its holdings in shares of Orla Mining by 279.9% in the 4th quarter. Van ECK Associates Corp now owns 19,391,604 shares of the company’s stock valued at $261,201,000 after buying an additional 14,287,477 shares during the period. Millennium Management LLC increased 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 worth $97,814,000 after purchasing an additional 8,236,385 shares during the period. Vanguard Group Inc. increased its holdings in Orla Mining by 152.1% during the 4th quarter. Vanguard Group Inc. now owns 8,202,861 shares of the company’s stock worth $110,320,000 after purchasing an additional 4,948,805 shares during the period. Invesco Ltd. increased its holdings in Orla Mining by 994.7% during the 4th quarter. Invesco Ltd. now owns 3,539,392 shares of the company’s stock worth $47,676,000 after purchasing an additional 3,216,068 shares during the period. Finally, Jupiter Asset Management Ltd. increased its holdings in Orla Mining by 25,866.2% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 2,791,369 shares of the company’s stock worth $30,112,000 after purchasing an additional 2,780,619 shares during the period. Hedge funds and other 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.