Orla Mining Ltd. (NYSEAMERICAN:ORLA – Get Free Report) fell 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 were traded during trading, a decline of 36% from the average daily volume of 2,772,191 shares. The stock had previously closed at $11.13.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on ORLA shares. TD Securities raised shares of Orla Mining from a “hold” rating to a “buy” rating in a report on Wednesday, May 20th. ATB Cormark Capital Markets upgraded shares of Orla Mining from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 23rd. TD Cowen raised shares of Orla Mining from a “hold” rating to a “buy” rating in a report on Wednesday, May 20th. Finally, Zacks Research downgraded shares of Orla Mining from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Orla Mining presently has an average rating of “Buy” and a consensus target price of $27.00.
Check Out Our Latest Research Report on ORLA
Orla Mining Stock Performance
Orla Mining Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, May 26th were paid a $0.015 dividend. This represents a $0.06 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Tuesday, May 26th. Orla Mining’s dividend payout ratio is currently -599.40%.
Institutional Investors Weigh In On Orla Mining
Several institutional investors and hedge funds have recently added to or reduced their stakes in ORLA. Van ECK Associates Corp raised its position in shares of Orla Mining by 279.9% in the fourth quarter. Van ECK Associates Corp now owns 19,391,604 shares of the company’s stock valued at $261,201,000 after buying an additional 14,287,477 shares during the last quarter. Millennium Management LLC boosted its position in Orla Mining by 992.0% during the third quarter. Millennium Management LLC now owns 9,066,678 shares of the company’s stock worth $97,814,000 after acquiring an additional 8,236,385 shares during the last quarter. Vanguard Group Inc. grew 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. Invesco Ltd. grew its stake in Orla Mining by 994.7% during the 4th quarter. Invesco Ltd. now owns 3,539,392 shares of the company’s stock valued at $47,676,000 after acquiring an additional 3,216,068 shares in the last quarter. Finally, Jupiter Asset Management Ltd. raised its holdings 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 acquiring an additional 2,780,619 shares during the last quarter. Institutional investors and hedge funds own 43.04% of the company’s stock.
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.
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