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

Shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) have been assigned a consensus recommendation of “Buy” from the nine research firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $27.00.

Several equities research analysts recently commented on the stock. Zacks Research lowered shares of Orla Mining from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. TD Cowen raised Orla Mining from a “hold” rating to a “buy” rating in a research report on Wednesday, May 20th. Finally, TD Securities upgraded Orla Mining from a “hold” rating to a “buy” rating in a research note on Wednesday, May 20th.

Hedge Funds Weigh In On Orla Mining

Several institutional investors and hedge funds have recently modified their holdings of the stock. CIBC Private Wealth Group LLC bought a new stake in Orla Mining during the 3rd quarter valued at about $27,000. Caitong International Asset Management Co. Ltd purchased a new position in Orla Mining in the fourth quarter worth about $29,000. Ancora Advisors LLC bought a new position in shares of Orla Mining in the second quarter worth approximately $31,000. Optiver Holding B.V. purchased a new stake in shares of Orla Mining during the first quarter valued at approximately $40,000. Finally, SBI Securities Co. Ltd. grew its holdings in shares of Orla Mining by 67.9% during the fourth 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 last quarter. 43.04% of the stock is currently owned by institutional investors.

Orla Mining Price Performance

NYSEAMERICAN:ORLA opened at $9.44 on Wednesday. The firm’s 50-day moving average price is $9.54 and its 200-day moving average price is $13.26. The company has a market capitalization of $3.27 billion, a PE ratio of 13.88 and a beta of 0.28. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.88. Orla Mining has a 1-year low of $8.43 and a 1-year high of $21.98.

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.