Orla Mining (NYSEAMERICAN:ORLA) Reaches New 12-Month High – Here’s Why

Orla Mining Ltd. (NYSEAMERICAN:ORLA) shares reached a new 52-week high on Tuesday . The stock traded as high as $16.46 and last traded at $16.5780, with a volume of 539422 shares changing hands. The stock had previously closed at $14.73.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Natl Bk Canada upgraded Orla Mining to a “strong-buy” rating in a report on Monday, January 12th. CIBC reaffirmed an “outperform” rating on shares of Orla Mining in a report on Monday, October 20th. National Bankshares initiated coverage on shares of Orla Mining in a report on Monday, January 12th. They issued an “outperform” rating for the company. Royal Bank Of Canada reissued an “outperform” rating on shares of Orla Mining in a research report on Tuesday, October 21st. Finally, Scotiabank reiterated an “outperform” rating on shares of Orla Mining in a research note on Thursday, October 23rd. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Orla Mining presently has a consensus rating of “Buy” and a consensus target price of $27.00.

Orla Mining Price Performance

The firm’s 50 day moving average price is $13.47 and its two-hundred day moving average price is $11.75. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.07 and a quick ratio of 0.88. The stock has a market cap of $5.82 billion, a PE ratio of 131.32 and a beta of 0.30.

Orla Mining Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 10th. Shareholders of record on Monday, January 12th will be given a dividend of $0.015 per share. The ex-dividend date is Monday, January 12th. This represents a $0.06 annualized dividend and a dividend yield of 0.4%. Orla Mining’s dividend payout ratio is currently -599.40%.

Hedge Funds Weigh In On Orla Mining

Several hedge funds have recently made changes to their positions in ORLA. Allspring Global Investments Holdings LLC boosted its stake in Orla Mining by 29.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,562,500 shares of the company’s stock worth $21,015,000 after purchasing an additional 354,000 shares during the period. Brookstone Capital Management purchased a new stake in Orla Mining in the 4th quarter worth approximately $261,000. Euro Pacific Asset Management LLC boosted its holdings in Orla Mining by 159.4% in the 4th quarter. Euro Pacific Asset Management LLC now owns 867,495 shares of the company’s stock valued at $11,420,000 after purchasing an additional 533,125 shares during the period. CWA Asset Management Group LLC increased its holdings in shares of Orla Mining by 7.8% in the fourth quarter. CWA Asset Management Group LLC now owns 3,371,814 shares of the company’s stock worth $45,418,000 after purchasing an additional 245,384 shares during the period. Finally, Innova Wealth Partners purchased a new stake in shares of Orla Mining in the fourth quarter worth $245,000. 43.04% of the stock is currently 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.