Orla Mining (NYSEAMERICAN:ORLA) Reaches New 52-Week High Following Analyst Upgrade

Orla Mining Ltd. (NYSEAMERICAN:ORLA) hit a new 52-week high during mid-day trading on Tuesday after Natl Bk Canada upgraded the stock to a strong-buy rating. The stock traded as high as $14.98 and last traded at $15.2050, with a volume of 1253 shares changing hands. The stock had previously closed at $14.75.

ORLA has been the subject of a number of other research reports. Royal Bank Of Canada restated an “outperform” rating on shares of Orla Mining in a research report on Tuesday, October 21st. National Bankshares began coverage on Orla Mining in a research note on Monday. They issued an “outperform” rating on the stock. CIBC restated an “outperform” rating on shares of Orla Mining in a report on Monday, October 20th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Orla Mining in a research note on Thursday, October 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $27.00.

Hedge Funds Weigh In On Orla Mining

A number of institutional investors have recently modified their holdings of ORLA. CIBC Private Wealth Group LLC bought a new stake in shares of Orla Mining during the 3rd quarter valued at $27,000. IFP Advisors Inc raised its holdings in shares of Orla Mining by 191.6% in the second quarter. IFP Advisors Inc now owns 3,981 shares of the company’s stock valued at $40,000 after purchasing an additional 2,616 shares during the last quarter. TD Waterhouse Canada Inc. grew its holdings in shares of Orla Mining by 50.0% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 5,368 shares of the company’s stock valued at $53,000 after acquiring an additional 1,789 shares in the last quarter. Farther Finance Advisors LLC acquired a new position in shares of Orla Mining during the 3rd quarter worth approximately $58,000. Finally, 111 Capital acquired a new position in Orla Mining during the second quarter worth $102,000. 43.04% of the stock is owned by institutional investors.

Orla Mining Stock Performance

The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.88 and a current ratio of 1.07. The stock’s fifty day moving average price is $13.19 and its 200-day moving average price is $11.64. The company has a market capitalization of $4.98 billion, a P/E ratio of 112.70 and a beta of 0.30.

Orla Mining Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 10th. Investors of record on Monday, January 12th will be given a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, January 12th. Orla Mining’s dividend payout ratio (DPR) is currently -599.40%.

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.