Orla Mining Ltd. (NYSEAMERICAN:ORLA) Receives Average Rating of “Buy” from Brokerages

Orla Mining Ltd. (NYSEAMERICAN:ORLA) has earned an average recommendation of “Buy” from the nine brokerages that are covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $27.00.

Several research firms have weighed in on ORLA. TD Cowen raised Orla Mining from a “hold” rating to a “buy” rating in a research report on Wednesday, May 20th. ATB Cormark Capital Markets upgraded Orla Mining from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 23rd. Zacks Research raised Orla Mining from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. Finally, TD Securities raised Orla Mining from a “hold” rating to a “buy” rating in a research note on Wednesday, May 20th.

Institutional Investors Weigh In On Orla Mining

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC purchased a new stake in Orla Mining in the third quarter worth $27,000. Caitong International Asset Management Co. Ltd purchased a new stake in Orla Mining in the fourth quarter worth $29,000. Optiver Holding B.V. purchased a new stake in Orla Mining in the first quarter worth $40,000. SBI Securities Co. Ltd. grew its stake in Orla Mining by 67.9% in the fourth quarter. SBI Securities Co. Ltd. now owns 4,672 shares of the company’s stock worth $63,000 after purchasing an additional 1,889 shares during the period. Finally, TD Waterhouse Canada Inc. boosted its position in shares of Orla Mining by 197.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 5,313 shares of the company’s stock worth $71,000 after purchasing an additional 3,524 shares in the last quarter. 43.04% of the stock is owned by hedge funds and other institutional investors.

Orla Mining Stock Up 0.8%

Shares of NYSEAMERICAN:ORLA opened at $11.33 on Friday. Orla Mining has a 1 year low of $9.16 and a 1 year high of $21.98. The company has a market cap of $3.92 billion, a PE ratio of 16.66 and a beta of 0.21. 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 stock’s 50-day moving average is $14.53 and its 200 day moving average is $15.15.

Orla Mining Dividend Announcement

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

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.