Orla Mining Ltd. (NYSEAMERICAN:ORLA) Given Consensus Recommendation of “Buy” by Analysts

Shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) have received a consensus recommendation of “Buy” from the nine research firms that are covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $27.00.

A number of research firms have weighed in on ORLA. 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 upgraded Orla Mining from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. TD Cowen upgraded Orla Mining from a “hold” rating to a “buy” rating in a report on Wednesday, May 20th. Finally, TD Securities raised shares of Orla Mining from a “hold” rating to a “buy” rating in a research note on Wednesday, May 20th.

Hedge Funds Weigh In On Orla Mining

Several hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp increased its position in Orla Mining by 279.9% during the fourth quarter. Van ECK Associates Corp now owns 19,391,604 shares of the company’s stock worth $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 third quarter. Millennium Management LLC now owns 9,066,678 shares of the company’s stock valued at $97,814,000 after acquiring an additional 8,236,385 shares during the period. Vanguard Group Inc. boosted its holdings in Orla Mining by 152.1% during the fourth quarter. Vanguard Group Inc. now owns 8,202,861 shares of the company’s stock valued at $110,320,000 after acquiring an additional 4,948,805 shares during the period. Franklin Resources Inc. boosted its holdings in Orla Mining by 1.0% during the fourth quarter. Franklin Resources Inc. now owns 7,686,849 shares of the company’s stock valued at $103,386,000 after acquiring an additional 74,925 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Orla Mining by 41.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,251,539 shares of the company’s stock valued at $78,194,000 after acquiring an additional 2,111,765 shares during the period. 43.04% of the stock is owned by institutional investors and hedge funds.

Orla Mining Stock Up 5.9%

NYSEAMERICAN:ORLA opened at $10.36 on Friday. The firm has a market capitalization of $3.58 billion, a PE ratio of 15.24 and a beta of 0.21. The stock has a 50 day moving average of $14.10 and a 200-day moving average of $15.09. Orla Mining has a 52 week low of $9.16 and a 52 week 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. Shareholders of record on Tuesday, May 26th were given a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Tuesday, May 26th. Orla Mining’s dividend payout ratio is presently -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.