D.A. Davidson & CO. Takes Position in Orla Mining Ltd. $ORLA

D.A. Davidson & CO. bought a new stake in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) during the 1st quarter, HoldingsChannel.com reports. The fund bought 143,915 shares of the company’s stock, valued at approximately $2,321,000.

Other institutional investors have also bought and sold shares of the company. Van ECK Associates Corp raised its position in 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 last quarter. Millennium Management LLC boosted 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 acquiring an additional 8,236,385 shares during the last quarter. Vanguard Group Inc. boosted 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 acquiring an additional 4,948,805 shares during the last quarter. Invesco Ltd. grew its stake in shares of Orla Mining by 994.7% in the 4th quarter. Invesco Ltd. now owns 3,539,392 shares of the company’s stock worth $47,676,000 after acquiring an additional 3,216,068 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Orla Mining in the 4th quarter worth $34,756,000. Institutional investors own 43.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ORLA shares. TD Securities upgraded shares of Orla Mining from a “hold” rating to a “buy” rating in a report on Wednesday, May 20th. TD Cowen upgraded shares of Orla Mining from a “hold” rating to a “buy” rating in a report on Wednesday, May 20th. Finally, Zacks Research downgraded shares of Orla Mining from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $27.00.

Orla Mining Stock Performance

Shares of Orla Mining stock opened at $8.65 on Tuesday. The business’s fifty day simple moving average is $10.95 and its 200 day simple moving average is $14.39. The firm has a market capitalization of $2.99 billion, a P/E ratio of 12.72 and a beta of 0.28. Orla Mining Ltd. has a 12 month low of $8.43 and a 12 month high of $21.98. 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 26th were given 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 0.7%. Orla Mining’s dividend payout ratio (DPR) is currently -599.40%.

Orla Mining Company Profile

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.