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

Orla Mining Ltd. (NYSEAMERICAN:ORLA) hit a new 52-week high on Monday . The stock traded as high as $19.54 and last traded at $19.6330, with a volume of 388749 shares. The stock had previously closed at $18.45.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ORLA shares. CIBC reiterated an “outperform” rating on shares of Orla Mining in a research report on Monday, October 20th. Scotiabank reissued an “outperform” rating on shares of Orla Mining in a research note on Monday. National Bankshares began coverage on shares of Orla Mining in a report on Monday, January 12th. They set an “outperform” rating for the company. BMO Capital Markets reaffirmed an “outperform” rating on shares of Orla Mining in a report on Monday. Finally, Natl Bk Canada raised shares of Orla Mining to a “strong-buy” rating in a research note on Monday, January 12th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Orla Mining currently has an average rating of “Buy” and an average target price of $27.00.

Orla Mining Stock Performance

The company has a current ratio of 1.07, a quick ratio of 0.88 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $6.41 billion, a price-to-earnings ratio of 145.77 and a beta of 0.30. The stock’s 50 day moving average is $13.91 and its two-hundred day moving average is $11.94.

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 given a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, January 12th. Orla Mining’s payout ratio is -599.40%.

Institutional Trading of Orla Mining

A number of hedge funds have recently modified their holdings of ORLA. CIBC Private Wealth Group LLC acquired a new position in shares of Orla Mining in the third quarter valued at about $27,000. IFP Advisors Inc lifted its position in shares of Orla Mining by 191.6% during the 2nd quarter. IFP Advisors Inc now owns 3,981 shares of the company’s stock worth $40,000 after buying an additional 2,616 shares during the last quarter. TD Waterhouse Canada Inc. grew its position in Orla Mining by 50.0% in the second quarter. TD Waterhouse Canada Inc. now owns 5,368 shares of the company’s stock valued at $53,000 after acquiring an additional 1,789 shares during the last quarter. Farther Finance Advisors LLC acquired a new position in Orla Mining during the third quarter worth about $58,000. Finally, 111 Capital bought a new position in shares of Orla Mining in the second quarter worth about $102,000. Institutional investors and hedge funds 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.