Orla Mining (NYSEAMERICAN:ORLA) Trading Down 8.1% – Here’s Why

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s stock price was down 8.1% during trading on Monday . The company traded as low as $12.53 and last traded at $12.3290. Approximately 697,631 shares were traded during trading, a decline of 73% from the average daily volume of 2,586,480 shares. The stock had previously closed at $13.41.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. ATB Cormark Capital Markets upgraded shares of Orla Mining from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 23rd. TD Cowen upgraded Orla Mining from a “hold” rating to a “buy” rating in a research report on Wednesday, May 20th. Zacks Research upgraded Orla Mining from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Orla Mining in a research report on Wednesday, February 4th. Finally, TD Securities raised Orla Mining from a “hold” rating to a “buy” rating in a report on Wednesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating and seven have given a Buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $27.00.

Orla Mining Stock Down 6.9%

The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.88. The business’s 50 day simple moving average is $14.71 and its 200 day simple moving average is $15.15. The company has a market capitalization of $4.32 billion, a PE ratio of 18.38 and a beta of 0.21.

Orla Mining Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 26th will be paid a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Tuesday, May 26th. Orla Mining’s payout ratio is -599.40%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL acquired a new position in Orla Mining during the 3rd quarter worth approximately $776,000. Gabelli Funds LLC boosted its holdings in shares of Orla Mining by 9.7% in the 3rd quarter. Gabelli Funds LLC now owns 1,125,800 shares of the company’s stock valued at $12,159,000 after buying an additional 100,000 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Orla Mining in the 3rd quarter valued at $976,000. Forge First Asset Management Inc. purchased a new stake in Orla Mining in the 3rd quarter valued at $1,079,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Orla Mining by 41.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,251,539 shares of the company’s stock valued at $78,194,000 after purchasing an additional 2,111,765 shares during the last quarter. Institutional investors and hedge funds 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.