Orla Mining (NYSEAMERICAN:ORLA) Trading Up 4% – Time to Buy?

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s share price rose 4% during mid-day trading on Friday . The stock traded as high as $14.47 and last traded at $14.3560. Approximately 343,019 shares were traded during trading, a decline of 85% from the average daily volume of 2,265,866 shares. The stock had previously closed at $13.81.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ORLA. ATB Cormark Capital Markets raised shares of Orla Mining from a “hold” rating to a “moderate buy” rating in a report on Monday, February 23rd. National Bank Financial began coverage on shares of Orla Mining in a research report on Monday, January 12th. They issued an “outperform” rating on the stock. Zacks Research cut shares of Orla Mining from a “strong-buy” rating to a “hold” rating in a research note on Monday. Scotiabank reissued an “outperform” rating on shares of Orla Mining in a research report on Monday, January 26th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Orla Mining in a research note on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $27.00.

Orla Mining Trading Up 5.1%

The firm has a fifty day moving average of $17.12 and a two-hundred day moving average of $13.94. The company has a market cap of $5.02 billion, a PE ratio of 55.85 and a beta of 0.23. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 0.52.

Institutional Trading of Orla Mining

Several hedge funds and other institutional investors have recently modified their holdings of ORLA. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Orla Mining during the 4th quarter valued at approximately $82,000. Groupama Asset Managment grew its stake in Orla Mining by 38.0% in the 4th quarter. Groupama Asset Managment now owns 444,142 shares of the company’s stock valued at $5,983,000 after buying an additional 122,235 shares in the last quarter. Virtu Financial LLC bought a new stake in Orla Mining during the 4th quarter valued at $160,000. Invesco Ltd. lifted its position in shares of Orla Mining by 994.7% during the fourth quarter. Invesco Ltd. now owns 3,539,392 shares of the company’s stock worth $47,676,000 after acquiring an additional 3,216,068 shares in the last quarter. Finally, Vident Advisory LLC purchased a new stake in Orla Mining during the 4th quarter worth about $463,000. Institutional investors own 43.04% of the company’s stock.

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.