Orla Mining (NYSEAMERICAN:ORLA) Upgraded at Zacks Research

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

ORLA has been the topic of several other reports. National Bank Financial initiated coverage on shares of Orla Mining in a research note on Monday, January 12th. They issued an “outperform” rating on the stock. Royal Bank Of Canada reiterated an “outperform” rating on shares of Orla Mining in a research note on Tuesday, October 21st. Natl Bk Canada upgraded shares of Orla Mining to a “strong-buy” rating in a research report on Monday, January 12th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Orla Mining in a report on Wednesday, February 4th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Orla Mining in a research note on Monday, January 26th. Three investment analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $27.00.

Orla Mining Stock Up 8.0%

Orla Mining stock opened at $17.39 on Wednesday. The stock has a 50 day moving average of $15.05 and a two-hundred day moving average of $12.50. Orla Mining has a twelve month low of $6.63 and a twelve month high of $20.05. The stock has a market capitalization of $5.99 billion, a price-to-earnings ratio of 133.78 and a beta of 0.30. The company has a current ratio of 1.07, a quick ratio of 0.88 and a debt-to-equity ratio of 0.66.

Orla Mining Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 10th. Shareholders of record on Monday, January 12th were issued a $0.015 dividend. The ex-dividend date of this dividend was Monday, January 12th. This represents a $0.06 dividend on an annualized basis and a yield of 0.3%. Orla Mining’s dividend payout ratio (DPR) is -599.40%.

Institutional Investors Weigh In On Orla Mining

Institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new position in Orla Mining during the fourth quarter worth $29,000. CIBC Private Wealth Group LLC purchased a new stake in Orla Mining in the 3rd quarter valued at approximately $27,000. IFP Advisors Inc grew its position in Orla Mining by 191.6% in the second quarter. IFP Advisors Inc now owns 3,981 shares of the company’s stock valued at $40,000 after acquiring an additional 2,616 shares in the last quarter. SBI Securities Co. Ltd. lifted its holdings in Orla Mining by 67.9% in the 4th quarter. SBI Securities Co. Ltd. now owns 4,672 shares of the company’s stock worth $63,000 after buying an additional 1,889 shares in the last quarter. Finally, TD Waterhouse Canada Inc. increased its stake in shares of Orla Mining by 197.0% in the fourth quarter. TD Waterhouse Canada Inc. now owns 5,313 shares of the company’s stock worth $71,000 after buying an additional 3,524 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.