Orla Mining (NYSEAMERICAN:ORLA) Lowered to Hold Rating by Zacks Research

Zacks Research downgraded shares of Orla Mining (NYSEAMERICAN:ORLA) from a strong-buy rating to a hold rating in a research note published on Tuesday,Zacks.com reports.

Other analysts also recently issued reports about the stock. TD Cowen raised shares of Orla Mining from a “hold” rating to a “buy” rating in a report on Wednesday, May 20th. ATB Cormark Capital Markets raised shares of Orla Mining from a “hold” rating to a “moderate buy” rating in a report on Monday, February 23rd. Finally, TD Securities raised shares of Orla Mining from a “hold” rating to a “buy” rating in a report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $27.00.

Orla Mining Stock Performance

NYSEAMERICAN ORLA opened at $11.13 on Tuesday. Orla Mining has a 52-week low of $9.16 and a 52-week high of $21.98. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.88 and a current ratio of 1.06. The company has a market capitalization of $3.85 billion, a P/E ratio of 16.37 and a beta of 0.21. The company has a fifty day moving average of $13.63 and a 200-day moving average of $15.04.

Orla Mining Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 26th were paid a $0.015 dividend. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $0.06 annualized dividend and a yield of 0.5%. Orla Mining’s payout ratio is currently -599.40%.

Institutional Trading of Orla Mining

Several hedge funds have recently added to or reduced their stakes in ORLA. Van ECK Associates Corp lifted its stake in Orla Mining by 279.9% in the fourth quarter. Van ECK Associates Corp now owns 19,391,604 shares of the company’s stock worth $261,201,000 after purchasing an additional 14,287,477 shares during the last quarter. Millennium Management LLC lifted its stake in Orla Mining by 992.0% in the third 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 last quarter. Vanguard Group Inc. lifted its stake in Orla Mining by 152.1% in the fourth 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 last quarter. Invesco Ltd. lifted its stake in Orla Mining by 994.7% in the fourth 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 last quarter. Finally, Jupiter Asset Management Ltd. lifted its stake in Orla Mining by 25,866.2% in the third 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 last quarter. 43.04% of the stock is owned by institutional investors.

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.