Orla Mining (NYSEAMERICAN:ORLA) Upgraded by Zacks Research to “Strong-Buy” Rating

Orla Mining (NYSEAMERICAN:ORLA) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other brokerages have also recently issued reports on ORLA. ATB Cormark Capital Markets raised Orla Mining from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 23rd. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Orla Mining in a research report on Wednesday, February 4th. BMO Capital Markets reissued an “outperform” rating on shares of Orla Mining in a research report on Monday, January 26th. Finally, Scotiabank reissued an “outperform” rating on shares of Orla Mining in a research report on Monday, January 26th. Two analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $27.00.

Orla Mining Trading Down 6.4%

NYSEAMERICAN:ORLA opened at $12.17 on Monday. The stock has a 50-day simple moving average of $15.42 and a 200-day simple moving average of $15.02. The stock has a market cap of $4.21 billion, a P/E ratio of 17.90 and a beta of 0.20. Orla Mining has a 1 year low of $9.16 and a 1 year high of $21.98. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.88 and a current ratio of 1.06.

Hedge Funds Weigh In On Orla Mining

Large investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd purchased a new position in shares of Orla Mining during the 4th quarter worth approximately $29,000. CIBC Private Wealth Group LLC purchased a new position in shares of Orla Mining during the 3rd quarter worth approximately $27,000. SBI Securities Co. Ltd. raised its stake in shares of Orla Mining by 67.9% during the 4th quarter. SBI Securities Co. Ltd. now owns 4,672 shares of the company’s stock worth $63,000 after buying an additional 1,889 shares in the last quarter. TD Waterhouse Canada Inc. raised its stake in shares of Orla Mining by 197.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 5,313 shares of the company’s stock worth $71,000 after buying an additional 3,524 shares in the last quarter. Finally, Osaic Holdings Inc. raised its stake in shares of Orla Mining by 82.2% during the 2nd quarter. Osaic Holdings Inc. now owns 10,161 shares of the company’s stock worth $102,000 after buying an additional 4,584 shares in the last quarter. 43.04% of the stock is owned by hedge funds and other institutional investors.

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.