Orla Mining (NYSEAMERICAN:ORLA) Hits New 12-Month High – Here’s Why

Orla Mining Ltd. (NYSEAMERICAN:ORLA) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $16.46 and last traded at $16.5780, with a volume of 539422 shares. The stock had previously closed at $14.73.

Wall Street Analyst Weigh In

ORLA has been the topic of several analyst reports. Royal Bank Of Canada reiterated an “outperform” rating on shares of Orla Mining in a report on Tuesday, October 21st. CIBC reaffirmed an “outperform” rating on shares of Orla Mining in a research report on Monday, October 20th. Natl Bk Canada raised shares of Orla Mining to a “strong-buy” rating in a report on Monday, January 12th. National Bankshares assumed coverage on Orla Mining in a research report on Monday, January 12th. They issued an “outperform” rating on the stock. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Orla Mining in a research report on Thursday, October 23rd. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Orla Mining presently has an average rating of “Buy” and an average price target of $27.00.

Orla Mining Stock Performance

The company has a quick ratio of 0.88, a current ratio of 1.07 and a debt-to-equity ratio of 0.66. The stock has a market cap of $5.93 billion, a P/E ratio of 134.01 and a beta of 0.30. The firm’s 50-day moving average is $13.78 and its two-hundred day moving average is $11.86.

Orla Mining Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 10th. Shareholders of record on Monday, January 12th will be given a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, January 12th. Orla Mining’s dividend payout ratio is presently -599.40%.

Hedge Funds Weigh In On Orla Mining

Institutional investors have recently modified their holdings of the company. Parvin Asset Management LLC increased its stake in shares of Orla Mining by 2.2% in the third quarter. Parvin Asset Management LLC now owns 69,675 shares of the company’s stock worth $752,000 after purchasing an additional 1,475 shares during the period. Neuberger Berman Group LLC increased its holdings in Orla Mining by 13.9% in the 3rd quarter. Neuberger Berman Group LLC now owns 13,374 shares of the company’s stock valued at $144,000 after buying an additional 1,637 shares during the period. XML Financial LLC raised its position in Orla Mining by 7.2% in the second quarter. XML Financial LLC now owns 24,550 shares of the company’s stock worth $246,000 after purchasing an additional 1,650 shares in the last quarter. TD Waterhouse Canada Inc. lifted its stake in Orla Mining by 50.0% during the second quarter. TD Waterhouse Canada Inc. now owns 5,368 shares of the company’s stock worth $53,000 after purchasing an additional 1,789 shares during the period. Finally, CIBC Private Wealth Group LLC bought a new position in Orla Mining during the third quarter worth about $27,000. 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.