Orla Mining (NYSEAMERICAN:ORLA) Hits New 52-Week High – Time to Buy?

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $20.10 and last traded at $19.7950, with a volume of 264713 shares trading hands. The stock had previously closed at $19.74.

Analyst Ratings Changes

Several analysts have recently weighed in on ORLA shares. Scotiabank reissued an “outperform” rating on shares of Orla Mining in a research note on Monday, January 26th. Zacks Research upgraded Orla Mining from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 11th. BMO Capital Markets reiterated an “outperform” rating on shares of Orla Mining in a report on Monday, January 26th. National Bank Financial started coverage on Orla Mining in a research report on Monday, January 12th. They set an “outperform” rating for the company. Finally, ATB Cormark Capital Markets upgraded shares of Orla Mining from a “hold” rating to a “moderate buy” rating in a report on Monday. Three research analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $27.00.

Orla Mining Trading Up 2.6%

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 firm has a market cap of $6.97 billion, a PE ratio of 155.55 and a beta of 0.30. The company’s 50 day moving average price is $15.78 and its 200 day moving average price is $12.95.

Orla Mining Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 10th. Shareholders of record on Monday, January 12th were given a $0.015 dividend. This represents a $0.06 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, January 12th. Orla Mining’s dividend payout ratio (DPR) is currently -599.40%.

Institutional Trading of Orla Mining

Large investors have recently modified their holdings of the stock. Van ECK Associates Corp boosted its holdings in Orla Mining by 279.9% in the fourth quarter. Van ECK Associates Corp now owns 19,391,604 shares of the company’s stock valued at $261,201,000 after purchasing an additional 14,287,477 shares during the period. Millennium Management LLC raised its position in Orla Mining by 992.0% in the 3rd quarter. Millennium Management LLC now owns 9,066,678 shares of the company’s stock valued at $97,814,000 after purchasing an additional 8,236,385 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Orla Mining by 152.1% during the fourth quarter. Vanguard Group Inc. now owns 8,202,861 shares of the company’s stock worth $110,320,000 after buying an additional 4,948,805 shares during the period. Invesco Ltd. raised its holdings in Orla Mining by 994.7% in the fourth quarter. Invesco Ltd. now owns 3,539,392 shares of the company’s stock valued at $47,676,000 after acquiring an additional 3,216,068 shares in the last quarter. Finally, Jupiter Asset Management Ltd. lifted its stake in Orla Mining by 25,866.2% in the third quarter. Jupiter Asset Management Ltd. now owns 2,791,369 shares of the company’s stock worth $30,112,000 after acquiring an additional 2,780,619 shares during the last quarter. Hedge funds and other institutional investors own 43.04% of the company’s stock.

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.