Orla Mining (NYSEAMERICAN:ORLA) Reaches New 12-Month Low – Should You Sell?

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s share price reached a new 52-week low during trading on Thursday . The company traded as low as $8.94 and last traded at $8.9950, with a volume of 283269 shares. The stock had previously closed at $9.34.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ORLA shares. TD Cowen upgraded Orla Mining from a “hold” rating to a “buy” rating in a research report on Wednesday, May 20th. Zacks Research cut Orla Mining from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Finally, TD Securities raised Orla Mining from a “hold” rating to a “buy” rating in a research note on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $27.00.

Orla Mining Trading Down 0.8%

The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of 12.66 and a beta of 0.28. 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 firm’s 50-day simple moving average is $11.07 and its 200 day simple moving average is $14.42.

Orla Mining Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 26th were issued a dividend of $0.015 per share. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.7%. Orla Mining’s payout ratio is -599.40%.

Institutional Trading of Orla Mining

Institutional investors and hedge funds have recently modified their holdings of the business. Ausbil Investment Management Ltd bought a new position in Orla Mining in the second quarter valued at about $564,000. Optiver Holding B.V. acquired a new position in Orla Mining during the first quarter worth about $40,000. Groupama Asset Managment lifted its holdings in shares of Orla Mining by 2.2% in the first quarter. Groupama Asset Managment now owns 454,122 shares of the company’s stock worth $7,325,000 after acquiring an additional 9,980 shares during the last quarter. Groupe la Francaise boosted its stake in shares of Orla Mining by 80.0% in the 1st quarter. Groupe la Francaise now owns 1,260,000 shares of the company’s stock valued at $20,195,000 after purchasing an additional 560,000 shares in the last quarter. Finally, Parvin Asset Management LLC boosted its stake in shares of Orla Mining by 3.7% in the 1st quarter. Parvin Asset Management LLC now owns 73,075 shares of the company’s stock valued at $1,179,000 after purchasing an additional 2,575 shares in the last quarter. 43.04% of the stock is currently owned by institutional investors.

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.