Orla Mining Ltd. (NYSEAMERICAN:ORLA) Receives $27.00 Average Target Price from Analysts

Shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) have earned an average rating of “Buy” from the eight ratings firms that are covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy recommendation and three have issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $27.00.

A number of analysts have commented on ORLA shares. National Bank Financial began coverage on shares of Orla Mining in a research note on Monday, January 12th. They issued an “outperform” rating for the company. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Orla Mining in a report on Wednesday, February 4th. BMO Capital Markets reiterated an “outperform” rating on shares of Orla Mining in a research note on Monday, January 26th. ATB Cormark Capital Markets raised Orla Mining from a “hold” rating to a “moderate buy” rating in a research report on Monday. Finally, Scotiabank restated an “outperform” rating on shares of Orla Mining in a research note on Monday, January 26th.

Hedge Funds Weigh In On Orla Mining

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC lifted its position in shares of Orla Mining by 45.8% during the 1st 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 period. Goldman Sachs Group Inc. raised its stake in Orla Mining by 14.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,061,455 shares of the company’s stock valued at $9,925,000 after purchasing an additional 131,577 shares in the last quarter. PCJ Investment Counsel Ltd. lifted its position in Orla Mining by 81.6% during the second quarter. PCJ Investment Counsel Ltd. now owns 266,250 shares of the company’s stock worth $2,676,000 after purchasing an additional 119,620 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Orla Mining by 33.7% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,139,774 shares of the company’s stock worth $51,667,000 after purchasing an additional 1,296,774 shares during the period. Finally, Merrion Investment Management Co LLC acquired a new stake in Orla Mining during the second quarter worth about $355,000. 43.04% of the stock is owned by institutional investors.

Orla Mining Stock Up 4.3%

NYSEAMERICAN:ORLA opened at $21.62 on Wednesday. Orla Mining has a twelve month low of $6.75 and a twelve month high of $21.74. The firm has a market capitalization of $7.45 billion, a price-to-earnings ratio of 166.32 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. The stock’s 50 day moving average price is $16.19 and its two-hundred day moving average price is $13.13.

Orla Mining Announces Dividend

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