Orla Mining (NYSEAMERICAN:ORLA) Stock Price Up 9.1% – Still a Buy?

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s stock price traded up 9.1% during trading on Monday . The company traded as high as $16.98 and last traded at $17.0130. 799,009 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 2,363,518 shares. The stock had previously closed at $15.60.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ORLA shares. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Orla Mining in a report on Wednesday, February 4th. Natl Bk Canada raised Orla Mining to a “strong-buy” rating in a report on Monday, January 12th. BMO Capital Markets reissued an “outperform” rating on shares of Orla Mining in a research report on Monday, January 26th. Royal Bank Of Canada restated an “outperform” rating on shares of Orla Mining in a research note on Tuesday, October 21st. Finally, National Bankshares began coverage on shares of Orla Mining in a research note on Monday, January 12th. They issued an “outperform” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $27.00.

Orla Mining Trading Up 11.2%

The stock has a 50-day moving average price of $14.69 and a two-hundred day moving average price of $12.29. The stock has a market capitalization of $5.90 billion, a PE ratio of 133.39 and a beta of 0.30. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.88 and a current ratio of 1.07.

Orla Mining Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 10th. Shareholders of record on Monday, January 12th will be 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 is Monday, January 12th. Orla Mining’s dividend payout ratio is presently -599.40%.

Hedge Funds Weigh In On Orla Mining

A number of hedge funds have recently made changes to their positions in ORLA. CIBC Private Wealth Group LLC purchased a new position in Orla Mining in the 3rd quarter worth approximately $27,000. IFP Advisors Inc raised its position in shares of Orla Mining by 191.6% during the second quarter. IFP Advisors Inc now owns 3,981 shares of the company’s stock valued at $40,000 after buying an additional 2,616 shares during the last quarter. TD Waterhouse Canada Inc. lifted its holdings in shares of Orla Mining by 50.0% in the second quarter. TD Waterhouse Canada Inc. now owns 5,368 shares of the company’s stock worth $53,000 after buying an additional 1,789 shares in the last quarter. Farther Finance Advisors LLC bought a new position in shares of Orla Mining during the third quarter worth $58,000. Finally, SBI Securities Co. Ltd. grew its stake in 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 acquiring an additional 1,889 shares in the last quarter. 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.