Orla Mining (NYSEAMERICAN:ORLA) Reaches New 12-Month High – What’s Next?

Orla Mining Ltd. (NYSEAMERICAN:ORLA) reached a new 52-week high on Monday . The company traded as high as $19.54 and last traded at $19.6330, with a volume of 388749 shares trading hands. The stock had previously closed at $18.45.

Analyst Ratings Changes

Several analysts recently commented on ORLA shares. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Orla Mining in a report on Tuesday, October 21st. CIBC restated an “outperform” rating on shares of Orla Mining in a research report on Monday, October 20th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Orla Mining in a research note on Monday. Scotiabank reiterated an “outperform” rating on shares of Orla Mining in a research note on Monday. Finally, National Bankshares assumed coverage on shares of Orla Mining in a research report on Monday, January 12th. They set an “outperform” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Orla Mining has a consensus rating of “Buy” and a consensus price target of $27.00.

Orla Mining Stock Performance

The stock has a 50-day moving average of $14.17 and a 200 day moving average of $12.05. The stock has a market cap of $6.65 billion, a PE ratio of 150.40 and a beta of 0.30. The company has a quick ratio of 0.88, a current ratio of 1.07 and a debt-to-equity ratio of 0.66.

Orla Mining Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 10th. Shareholders of record on Monday, January 12th will be paid a dividend of $0.015 per share. The ex-dividend date of this dividend is Monday, January 12th. This represents a $0.06 dividend on an annualized basis and a yield of 0.3%. Orla Mining’s payout ratio is -599.40%.

Institutional Trading of Orla Mining

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC increased its position in shares of Orla Mining by 45.8% during the first 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 during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Orla Mining by 14.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,061,455 shares of the company’s stock worth $9,925,000 after purchasing an additional 131,577 shares during the period. XML Financial LLC increased its holdings in Orla Mining by 7.2% in the 2nd quarter. XML Financial LLC now owns 24,550 shares of the company’s stock valued at $246,000 after purchasing an additional 1,650 shares during the last quarter. 111 Capital purchased a new stake in Orla Mining in the second quarter valued at approximately $102,000. Finally, IFP Advisors Inc lifted its stake in Orla Mining by 191.6% during the second quarter. IFP Advisors Inc now owns 3,981 shares of the company’s stock worth $40,000 after purchasing an additional 2,616 shares in the last quarter. 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.