Orla Mining (NYSEAMERICAN:ORLA) Stock Rating Lowered by Zacks Research

Orla Mining (NYSEAMERICAN:ORLA) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other research firms also recently weighed in on ORLA. TD Cowen raised shares of Orla Mining from a “hold” rating to a “buy” rating in a research note on Wednesday, May 20th. TD Securities raised shares of Orla Mining from a “hold” rating to a “buy” rating in a research note on Wednesday, May 20th. Finally, ATB Cormark Capital Markets raised shares of Orla Mining from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 23rd. One 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 company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $27.00.

Orla Mining Price Performance

ORLA opened at $11.13 on Tuesday. The stock has a fifty day moving average of $13.63 and a 200-day moving average of $15.04. The firm has a market capitalization of $3.85 billion, a P/E ratio of 16.37 and a beta of 0.21. Orla Mining has a 12-month low of $9.16 and a 12-month high of $21.98. The company has a quick ratio of 0.88, a current ratio of 1.06 and a debt-to-equity ratio of 0.39.

Hedge Funds Weigh In On Orla Mining

Several hedge funds have recently bought and sold shares of the business. Sprott Inc. increased its position in Orla Mining by 1.8% during the fourth quarter. Sprott Inc. now owns 45,822 shares of the company’s stock worth $617,000 after buying an additional 799 shares during the last quarter. Parvin Asset Management LLC increased its position in Orla Mining by 1.2% during the fourth quarter. Parvin Asset Management LLC now owns 70,500 shares of the company’s stock worth $950,000 after buying an additional 825 shares during the last quarter. Neuberger Berman Group LLC increased its position in Orla Mining by 13.9% during the third quarter. Neuberger Berman Group LLC now owns 13,374 shares of the company’s stock worth $144,000 after buying an additional 1,637 shares during the last quarter. SBI Securities Co. Ltd. increased its position in Orla Mining by 67.9% during the fourth 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 during the last quarter. Finally, Mariner LLC increased its position in Orla Mining by 15.3% during the fourth quarter. Mariner LLC now owns 14,929 shares of the company’s stock worth $201,000 after buying an additional 1,976 shares during the last quarter. 43.04% of the stock is owned by institutional investors and hedge funds.

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.