Orla Mining (NYSEAMERICAN:ORLA) Stock Price Down 7.2% – Should You Sell?

Shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) were down 7.2% during trading on Thursday . The company traded as low as $10.28 and last traded at $10.3250. Approximately 1,776,124 shares traded hands during mid-day trading, a decline of 36% from the average session volume of 2,772,191 shares. The stock had previously closed at $11.13.

Analysts Set New Price Targets

ORLA has been the topic of a number of recent research reports. ATB Cormark Capital Markets upgraded Orla Mining from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 23rd. Zacks Research lowered Orla Mining from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. TD Cowen upgraded Orla Mining from a “hold” rating to a “buy” rating in a report on Wednesday, May 20th. Finally, TD Securities upgraded Orla Mining from a “hold” rating to a “buy” rating in a report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $27.00.

Orla Mining Stock Performance

The stock’s fifty day moving average is $13.34 and its two-hundred day moving average is $14.98. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of 15.26 and a beta of 0.21. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.88 and a current ratio of 1.06.

Orla Mining Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, May 26th were issued a $0.015 dividend. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $0.06 annualized dividend and a dividend yield of 0.6%. Orla Mining’s dividend payout ratio (DPR) is -599.40%.

Institutional Inflows and Outflows

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