Orla Mining Ltd. (NYSEAMERICAN:ORLA) Receives Average Recommendation of “Buy” from Brokerages

Orla Mining Ltd. (NYSEAMERICAN:ORLA) has been given an average recommendation of “Buy” by the seven ratings firms that are currently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $27.00.

Several equities research analysts recently commented on ORLA shares. BMO Capital Markets reiterated an “outperform” rating on shares of Orla Mining in a research note on Monday, January 26th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Orla Mining in a research report on Tuesday, October 21st. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Orla Mining in a research report on Wednesday. Natl Bk Canada upgraded Orla Mining to a “strong-buy” rating in a research note on Monday, January 12th. Finally, National Bankshares began coverage on Orla Mining in a research report on Monday, January 12th. They set an “outperform” rating on the stock.

Hedge Funds Weigh In On Orla Mining

Several institutional investors have recently added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC acquired a new stake in Orla Mining during the 3rd quarter worth approximately $27,000. IFP Advisors Inc raised its stake in shares of 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 during the last quarter. TD Waterhouse Canada Inc. grew its position in 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 buying an additional 1,789 shares during the last quarter. Farther Finance Advisors LLC purchased a new position in Orla Mining in the 3rd quarter valued at $58,000. Finally, SBI Securities Co. Ltd. increased its stake in Orla Mining by 67.9% in the 4th quarter. SBI Securities Co. Ltd. now owns 4,672 shares of the company’s stock valued at $63,000 after buying an additional 1,889 shares during the period. Institutional investors and hedge funds own 43.04% of the company’s stock.

Orla Mining Stock Performance

Shares of Orla Mining stock opened at $15.60 on Friday. The firm has a market capitalization of $5.31 billion, a P/E ratio of 120.01 and a beta of 0.30. Orla Mining has a 52 week low of $6.63 and a 52 week high of $20.05. The company has a quick ratio of 0.88, a current ratio of 1.07 and a debt-to-equity ratio of 0.66. The firm’s 50 day moving average is $14.69 and its two-hundred day moving average is $12.29.

Orla Mining Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 10th. Stockholders of record on Monday, January 12th will be issued a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, January 12th. Orla Mining’s dividend payout ratio is presently -599.40%.

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.