Analysts Set Orla Mining Ltd. (NYSEAMERICAN:ORLA) Price Target at $27.00

Orla Mining Ltd. (NYSEAMERICAN:ORLA) has been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $27.00.

A number of brokerages have recently commented on ORLA. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Orla Mining in a research report on Tuesday, October 21st. CIBC reissued an “outperform” rating on shares of Orla Mining in a research note on Monday, October 20th. Finally, Scotiabank restated an “outperform” rating on shares of Orla Mining in a report on Thursday, October 23rd.

Orla Mining Trading Up 0.4%

ORLA stock opened at $14.34 on Tuesday. Orla Mining has a 12 month low of $5.46 and a 12 month high of $14.98. The firm’s 50-day moving average is $12.80 and its 200 day moving average is $11.49. The company has a market capitalization of $4.88 billion, a PE ratio of 110.32 and a beta of 0.30. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.07 and a quick ratio of 0.88.

Orla Mining Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 10th. Stockholders of record on Monday, January 12th will be paid a dividend of $0.015 per share. The ex-dividend date is Monday, January 12th. This represents a $0.06 annualized dividend and a dividend yield of 0.4%.

Institutional Trading of Orla Mining

Hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC grew its holdings in Orla Mining by 992.0% during the 3rd quarter. Millennium Management LLC now owns 9,066,678 shares of the company’s stock worth $97,814,000 after acquiring an additional 8,236,385 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Orla Mining by 1,628.2% in the 3rd quarter. Vanguard Group Inc. now owns 3,254,056 shares of the company’s stock worth $35,095,000 after purchasing an additional 3,065,761 shares during the period. Jupiter Asset Management Ltd. boosted its stake in shares of Orla Mining by 25,866.2% during the third quarter. Jupiter Asset Management Ltd. now owns 2,791,369 shares of the company’s stock valued at $30,112,000 after purchasing an additional 2,780,619 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Orla Mining by 41.1% during the third 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 in the last quarter. Finally, Mudita Advisors LLP purchased a new position in Orla Mining during the third quarter valued at approximately $15,119,000. 43.04% of the stock is owned by hedge funds and other institutional investors.

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.