Orla Mining (NYSEAMERICAN:ORLA) Raised to Strong-Buy at Natl Bk Canada

Orla Mining (NYSEAMERICAN:ORLA) was upgraded by investment analysts at Natl Bk Canada to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other brokerages have also commented on ORLA. Royal Bank Of Canada reiterated an “outperform” rating on shares of Orla Mining in a research report on Tuesday, October 21st. CIBC restated an “outperform” rating on shares of Orla Mining in a research note on Monday, October 20th. Scotiabank reiterated an “outperform” rating on shares of Orla Mining in a research note on Thursday, October 23rd. Finally, National Bankshares initiated coverage on shares of Orla Mining in a report on Monday. They set an “outperform” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $27.00.

Orla Mining Stock Down 3.6%

Shares of ORLA stock traded down $0.54 during trading hours on Monday, hitting $14.54. 841,868 shares of the company were exchanged, compared to its average volume of 1,689,517. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 111.59 and a beta of 0.30. Orla Mining has a one year low of $5.52 and a one year high of $15.54. The business’s 50-day simple moving average is $13.08 and its two-hundred day simple moving average is $11.61. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.88 and a current ratio of 1.07.

Hedge Funds Weigh In On Orla Mining

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC raised its stake in Orla Mining by 992.0% during 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 in the last quarter. Vanguard Group Inc. lifted its holdings in Orla Mining by 1,628.2% in the third quarter. Vanguard Group Inc. now owns 3,254,056 shares of the company’s stock worth $35,095,000 after purchasing an additional 3,065,761 shares during the period. Jupiter Asset Management Ltd. grew its position in Orla Mining by 25,866.2% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 2,791,369 shares of the company’s stock valued at $30,112,000 after buying an additional 2,780,619 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Orla Mining by 41.1% during 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 buying an additional 2,111,765 shares during the period. Finally, Mudita Advisors LLP bought a new stake in shares of Orla Mining during the 3rd quarter worth about $15,119,000. 43.04% of the stock is owned by 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.