Orla Mining (NYSEAMERICAN:ORLA) Sets New 52-Week Low – Time to Sell?

Shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $9.15 and last traded at $9.2050, with a volume of 2068460 shares trading hands. The stock had previously closed at $9.77.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ORLA shares. TD Securities upgraded Orla Mining from a “hold” rating to a “buy” rating in a report on Wednesday, May 20th. Zacks Research downgraded Orla Mining from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Finally, TD Cowen raised Orla Mining from a “hold” rating to a “buy” rating in a research report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $27.00.

Orla Mining Price Performance

The company has a market cap of $3.39 billion, a PE ratio of 14.39 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. The stock’s 50-day moving average is $11.63 and its 200 day moving average is $14.64.

Orla Mining Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 26th were issued a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Tuesday, May 26th. Orla Mining’s dividend payout ratio is currently -599.40%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ausbil Investment Management Ltd acquired a new position in Orla Mining during the 2nd quarter valued at about $564,000. Optiver Holding B.V. acquired a new stake in Orla Mining in the first quarter worth about $40,000. Groupama Asset Managment boosted its holdings in Orla Mining by 2.2% in the first quarter. Groupama Asset Managment now owns 454,122 shares of the company’s stock worth $7,325,000 after acquiring an additional 9,980 shares in the last quarter. Groupe la Francaise grew its stake in shares of Orla Mining by 80.0% during the first quarter. Groupe la Francaise now owns 1,260,000 shares of the company’s stock worth $20,195,000 after acquiring an additional 560,000 shares during the last quarter. Finally, Parvin Asset Management LLC grew its stake in shares of Orla Mining by 3.7% during the first quarter. Parvin Asset Management LLC now owns 73,075 shares of the company’s stock worth $1,179,000 after acquiring an additional 2,575 shares during the last quarter. 43.04% of the stock is currently owned by hedge funds and other institutional investors.

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.