Orla Mining Ltd. (NYSEAMERICAN:ORLA) Receives Consensus Rating of “Buy” from Brokerages

Orla Mining Ltd. (NYSEAMERICAN:ORLA) has been assigned a consensus recommendation of “Buy” from the seven research firms that are presently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $27.00.

Several equities analysts have recently issued reports on ORLA shares. National Bank Financial started coverage on shares of Orla Mining in a research note on Monday, January 12th. They issued an “outperform” rating on the stock. Zacks Research raised shares of Orla Mining from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 11th. BMO Capital Markets restated an “outperform” rating on shares of Orla Mining in a report on Monday, January 26th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Orla Mining in a research report on Wednesday, February 4th. Finally, Scotiabank restated an “outperform” rating on shares of Orla Mining in a research report on Monday, January 26th.

Orla Mining Stock Performance

Shares of NYSEAMERICAN ORLA opened at $14.03 on Friday. Orla Mining has a 1 year low of $7.08 and a 1 year high of $21.98. The firm has a market cap of $4.85 billion, a P/E ratio of 53.96 and a beta of 0.23. The stock has a fifty day moving average price of $17.17 and a two-hundred day moving average price of $13.88. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.88 and a current ratio of 1.07.

Institutional Trading of Orla Mining

A number of hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new position in Orla Mining during the 4th quarter worth approximately $82,000. Groupama Asset Managment lifted its holdings in shares of Orla Mining by 38.0% in the fourth quarter. Groupama Asset Managment now owns 444,142 shares of the company’s stock valued at $5,983,000 after purchasing an additional 122,235 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Orla Mining in the fourth quarter worth $160,000. Invesco Ltd. boosted its position in shares of Orla Mining by 994.7% in the fourth quarter. Invesco Ltd. now owns 3,539,392 shares of the company’s stock worth $47,676,000 after buying an additional 3,216,068 shares during the period. Finally, Vident Advisory LLC purchased a new position in shares of Orla Mining during the fourth quarter valued at $463,000. 43.04% of the stock is 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.