Orla Mining (NYSEAMERICAN:ORLA) Hits New 12-Month High – Time to Buy?

Orla Mining Ltd. (NYSEAMERICAN:ORLA) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $19.54 and last traded at $19.6330, with a volume of 388749 shares changing hands. The stock had previously closed at $18.45.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. National Bankshares assumed coverage on Orla Mining in a report on Monday, January 12th. They set an “outperform” rating on the stock. CIBC reiterated an “outperform” rating on shares of Orla Mining in a research report on Monday, October 20th. BMO Capital Markets restated an “outperform” rating on shares of Orla Mining in a report on Monday. Scotiabank reiterated an “outperform” rating on shares of Orla Mining in a report on Monday. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Orla Mining in a research note on Tuesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $27.00.

Orla Mining Price Performance

The firm has a market cap of $6.41 billion, a price-to-earnings ratio of 145.77 and a beta of 0.30. The business has a 50 day simple moving average of $13.91 and a 200-day simple moving average of $11.94. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.88 and a current ratio of 1.07.

Orla Mining Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 10th. Investors of record on Monday, January 12th will be issued a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, January 12th. Orla Mining’s dividend payout ratio (DPR) is -599.40%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. CIBC Private Wealth Group LLC bought a new stake in shares of Orla Mining during the 3rd quarter worth $27,000. IFP Advisors Inc raised 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 worth $40,000 after acquiring an additional 2,616 shares during the period. TD Waterhouse Canada Inc. boosted its stake in Orla Mining by 50.0% in the second quarter. TD Waterhouse Canada Inc. now owns 5,368 shares of the company’s stock valued at $53,000 after acquiring an additional 1,789 shares during the last quarter. Farther Finance Advisors LLC purchased a new position in Orla Mining in the third quarter valued at about $58,000. Finally, 111 Capital bought a new position in shares of Orla Mining during the 2nd quarter valued at approximately $102,000. 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.