Orla Mining (NYSEAMERICAN:ORLA) Stock Price Down 7.2% – Should You Sell?

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s stock price fell 7.2% during mid-day trading on Thursday . The stock traded as low as $10.28 and last traded at $10.3250. 1,776,124 shares were traded during mid-day trading, a decline of 36% from the average session volume of 2,772,191 shares. The stock had previously closed at $11.13.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ORLA shares. TD Securities raised Orla Mining from a “hold” rating to a “buy” rating in a research note on Wednesday, May 20th. ATB Cormark Capital Markets raised shares of Orla Mining from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 23rd. Zacks Research lowered shares of Orla Mining from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Finally, TD Cowen upgraded shares of Orla Mining from a “hold” rating to a “buy” rating in a research report on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Orla Mining has a consensus rating of “Buy” and an average price target of $27.00.

Orla Mining Stock Down 6.9%

The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.88. The business has a 50 day simple moving average of $13.63 and a 200 day simple moving average of $15.04. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of 15.24 and a beta of 0.21.

Orla Mining Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, May 26th were issued a $0.015 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Tuesday, May 26th. Orla Mining’s payout ratio is currently -599.40%.

Hedge Funds Weigh In On Orla Mining

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Optiver Holding B.V. acquired a new position in Orla Mining in the 1st quarter valued at about $40,000. Groupama Asset Managment lifted its position in shares of Orla Mining by 2.2% during the first quarter. Groupama Asset Managment now owns 454,122 shares of the company’s stock worth $7,325,000 after purchasing an additional 9,980 shares in the last quarter. Groupe la Francaise lifted its position in shares of Orla Mining by 80.0% during the first quarter. Groupe la Francaise now owns 1,260,000 shares of the company’s stock worth $20,195,000 after purchasing an additional 560,000 shares in the last quarter. Parvin Asset Management LLC boosted its stake in shares of Orla Mining by 3.7% in the first quarter. Parvin Asset Management LLC now owns 73,075 shares of the company’s stock valued at $1,179,000 after purchasing an additional 2,575 shares during the period. Finally, Themes Management Co LLC boosted its stake in shares of Orla Mining by 22.2% in the first quarter. Themes Management Co LLC now owns 55,953 shares of the company’s stock valued at $900,000 after purchasing an additional 10,155 shares during the period. 43.04% of the stock is currently owned by hedge funds and other 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.