Orla Mining (NYSEAMERICAN:ORLA) Upgraded by TD Cowen to “Buy” Rating

Orla Mining (NYSEAMERICAN:ORLA) was upgraded by stock analysts at TD Cowen from a “hold” rating to a “buy” rating in a research report issued on Wednesday.

Several other brokerages have also commented on ORLA. Scotiabank reissued an “outperform” rating on shares of Orla Mining in a report on Monday, January 26th. TD Securities upgraded Orla Mining from a “hold” rating to a “buy” rating in a research report on Wednesday. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Orla Mining in a research note on Wednesday, February 4th. ATB Cormark Capital Markets upgraded shares of Orla Mining from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 23rd. Finally, Zacks Research raised shares of Orla Mining from a “hold” rating to a “strong-buy” rating in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $27.00.

Orla Mining Price Performance

NYSEAMERICAN:ORLA opened at $12.17 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 1.06 and a debt-to-equity ratio of 0.39. Orla Mining has a 52 week low of $9.16 and a 52 week high of $21.98. The stock’s 50-day moving average price is $15.42 and its 200-day moving average price is $15.02. The stock has a market capitalization of $4.21 billion, a PE ratio of 17.90 and a beta of 0.20.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ORLA. Parvin Asset Management LLC boosted its stake in Orla Mining by 3.7% during the 1st quarter. Parvin Asset Management LLC now owns 73,075 shares of the company’s stock worth $1,179,000 after purchasing an additional 2,575 shares during the last quarter. Themes Management Co LLC raised its position in shares of Orla Mining by 22.2% in the first quarter. Themes Management Co LLC now owns 55,953 shares of the company’s stock valued at $900,000 after buying an additional 10,155 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Orla Mining in the first quarter worth about $1,155,000. Renaissance Technologies LLC boosted its position in Orla Mining by 32.1% during the first quarter. Renaissance Technologies LLC now owns 1,376,799 shares of the company’s stock worth $22,208,000 after acquiring an additional 334,600 shares during the last quarter. Finally, Gamco Investors INC. ET AL boosted its position in Orla Mining by 41.5% during the first quarter. Gamco Investors INC. ET AL now owns 117,380 shares of the company’s stock worth $1,893,000 after acquiring an additional 34,435 shares during the last quarter. Hedge funds and other institutional investors own 43.04% of the company’s stock.

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.