Analysts Set Orla Mining Ltd. (NYSEAMERICAN:ORLA) Price Target at $27.00

Orla Mining Ltd. (NYSEAMERICAN:ORLA) has been given an average recommendation of “Buy” by the nine ratings firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $27.00.

ORLA has been the topic of a number of research analyst reports. TD Securities raised shares of Orla Mining from a “hold” rating to a “buy” rating in a report on Wednesday, May 20th. TD Cowen raised 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.

Institutional Investors Weigh In On Orla Mining

Several institutional investors and hedge funds have recently made changes to their positions in the business. Millennium Management LLC increased its holdings in Orla Mining by 45.8% during the 1st quarter. Millennium Management LLC now owns 594,177 shares of the company’s stock valued at $5,555,000 after acquiring an additional 186,714 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Orla Mining by 14.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,061,455 shares of the company’s stock valued at $9,925,000 after purchasing an additional 131,577 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Orla Mining by 3.3% in the second quarter. Geode Capital Management LLC now owns 124,405 shares of the company’s stock valued at $1,255,000 after purchasing an additional 3,948 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Orla Mining by 83,706.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 313,436 shares of the company’s stock worth $3,141,000 after purchasing an additional 313,062 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of Orla Mining by 21.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 30,058 shares of the company’s stock worth $301,000 after purchasing an additional 5,323 shares in the last quarter. 43.04% of the stock is currently owned by hedge funds and other institutional investors.

Orla Mining Stock Performance

Shares of ORLA opened at $10.18 on Tuesday. The stock has a market capitalization of $3.52 billion, a P/E ratio of 14.97 and a beta of 0.28. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.88 and a current ratio of 1.06. Orla Mining has a 1 year low of $9.16 and a 1 year high of $21.98. The company’s fifty day moving average is $11.98 and its two-hundred day moving average is $14.75.

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 paid a $0.015 dividend. 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 (DPR) 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.