Orla Mining (NYSEAMERICAN:ORLA) Stock Price Down 9.8% – Here’s What Happened

Shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) were down 9.8% on Friday . The stock traded as low as $13.44 and last traded at $13.3440. Approximately 1,340,289 shares traded hands during trading, a decline of 47% from the average daily volume of 2,528,840 shares. The stock had previously closed at $14.79.

Analyst Ratings Changes

Several research analysts have weighed in on ORLA shares. BMO Capital Markets reiterated an “outperform” rating on shares of Orla Mining in a research report on Monday, January 26th. ATB Cormark Capital Markets upgraded Orla Mining from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 23rd. Scotiabank reiterated an “outperform” rating on shares of Orla Mining in a research report on Monday, January 26th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Orla Mining in a research report on Wednesday, February 4th. Finally, Zacks Research cut Orla Mining from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 23rd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Orla Mining presently has an average rating of “Buy” and an average target price of $27.00.

Orla Mining Stock Down 8.5%

The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.92. The company has a market cap of $4.68 billion, a P/E ratio of 19.90 and a beta of 0.20. The stock has a 50-day moving average of $15.77 and a 200 day moving average of $14.96.

Orla Mining Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Tuesday, May 26th will be given a $0.015 dividend. The ex-dividend date is Tuesday, May 26th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.4%. Orla Mining’s dividend payout ratio (DPR) is presently -599.40%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Sprott Inc. increased its position in shares of Orla Mining by 1.8% in the fourth quarter. Sprott Inc. now owns 45,822 shares of the company’s stock worth $617,000 after purchasing an additional 799 shares during the period. Parvin Asset Management LLC boosted its stake in Orla Mining by 1.2% in the fourth quarter. Parvin Asset Management LLC now owns 70,500 shares of the company’s stock valued at $950,000 after buying an additional 825 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in Orla Mining by 13.9% in the third quarter. Neuberger Berman Group LLC now owns 13,374 shares of the company’s stock valued at $144,000 after buying an additional 1,637 shares in the last quarter. SBI Securities Co. Ltd. boosted its stake in Orla Mining by 67.9% in the fourth quarter. SBI Securities Co. Ltd. now owns 4,672 shares of the company’s stock valued at $63,000 after buying an additional 1,889 shares in the last quarter. Finally, Mariner LLC boosted its stake in Orla Mining by 15.3% in the fourth quarter. Mariner LLC now owns 14,929 shares of the company’s stock valued at $201,000 after buying an additional 1,976 shares in the last quarter. 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.