Orla Mining (NYSEAMERICAN:ORLA) Cut to “Hold” at Zacks Research

Zacks Research cut shares of Orla Mining (NYSEAMERICAN:ORLA) from a strong-buy rating to a hold rating in a report issued on Monday morning,Zacks.com reports.

ORLA has been the topic of a number of other research reports. BMO Capital Markets reaffirmed an “outperform” rating on shares of Orla Mining in a research report on Monday, January 26th. ATB Cormark Capital Markets raised Orla Mining from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 23rd. Scotiabank restated an “outperform” rating on shares of Orla Mining in a research note on Monday, January 26th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Orla Mining in a report on Wednesday, February 4th. Finally, National Bank Financial assumed coverage on shares of Orla Mining in a report on Monday, January 12th. They set an “outperform” rating for the company. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $27.00.

Orla Mining Stock Up 1.7%

Shares of NYSEAMERICAN ORLA opened at $14.56 on Monday. The stock has a market cap of $5.03 billion, a P/E ratio of 56.00 and a beta of 0.23. The business’s fifty day simple moving average is $17.14 and its 200-day simple moving average is $13.94. Orla Mining has a 12-month low of $7.08 and a 12-month high of $21.98. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 0.52.

Institutional Investors Weigh In On Orla Mining

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Van ECK Associates Corp boosted its stake in Orla Mining by 279.9% in the fourth quarter. Van ECK Associates Corp now owns 19,391,604 shares of the company’s stock valued at $261,201,000 after acquiring an additional 14,287,477 shares in the last quarter. Millennium Management LLC increased its position in shares of Orla Mining by 992.0% during the third quarter. Millennium Management LLC now owns 9,066,678 shares of the company’s stock worth $97,814,000 after purchasing an additional 8,236,385 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Orla Mining by 152.1% during the fourth quarter. Vanguard Group Inc. now owns 8,202,861 shares of the company’s stock worth $110,320,000 after purchasing an additional 4,948,805 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Orla Mining by 1.0% in the 4th quarter. Franklin Resources Inc. now owns 7,686,849 shares of the company’s stock valued at $103,386,000 after purchasing an additional 74,925 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Orla Mining by 41.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,251,539 shares of the company’s stock valued at $78,194,000 after purchasing an additional 2,111,765 shares during the last quarter. 43.04% of the stock is currently owned by institutional investors and hedge funds.

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.