Orla Mining (NYSEAMERICAN:ORLA) Shares Up 5.9% – Still a Buy?

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s stock price was up 5.9% during trading on Wednesday . The stock traded as high as $9.58 and last traded at $9.5850. 606,511 shares were traded during trading, a decline of 78% from the average daily volume of 2,819,382 shares. The stock had previously closed at $9.05.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ORLA. TD Securities raised Orla Mining from a “hold” rating to a “buy” rating in a research note on Wednesday, May 20th. Zacks Research downgraded Orla Mining from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. Finally, TD Cowen upgraded Orla Mining from a “hold” rating to a “buy” rating in a report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $27.00.

Orla Mining Price Performance

The firm has a market capitalization of $3.28 billion, a P/E ratio of 13.89 and a beta of 0.28. The business’s fifty day moving average is $10.84 and its 200 day moving average is $14.36. The company has a current ratio of 1.06, a quick ratio of 0.88 and a debt-to-equity ratio of 0.39.

Orla Mining Announces Dividend

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

Institutional Investors Weigh In On Orla Mining

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp boosted its position 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 purchasing an additional 14,287,477 shares during the period. Millennium Management LLC lifted its stake in Orla Mining by 992.0% during the third quarter. Millennium Management LLC now owns 9,066,678 shares of the company’s stock valued at $97,814,000 after buying an additional 8,236,385 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of 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 buying an additional 4,948,805 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Orla Mining by 1.0% in the fourth quarter. Franklin Resources Inc. now owns 7,686,849 shares of the company’s stock worth $103,386,000 after buying an additional 74,925 shares during the period. Finally, Amundi increased its position in shares of Orla Mining by 35.5% in the third quarter. Amundi now owns 4,721,047 shares of the company’s stock worth $54,481,000 after acquiring an additional 1,237,832 shares in the last quarter. 43.04% of the stock is owned by institutional investors and hedge funds.

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.