D.A. Davidson & CO. Buys New Position in Orla Mining Ltd. $ORLA

Key Points

• D.A. Davidson & Co. opened a new position in Orla Mining during the first quarter, buying 143,915 shares valued at about $2.32 million.
• Institutional interest remains notable, with several other funds adding stakes and 43.04% of the stock now owned by institutional investors.
• Analysts are generally positive on the stock, with a consensus Buy rating and a $27.00 price target, while Orla Mining’s shares recently traded at $8.65 with a quarterly dividend of $0.015 per share.

D.A. Davidson & CO. bought a new position in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 143,915 shares of the company's stock, valued at approximately $2,321,000.

A number of other hedge funds have also added to or reduced their stakes in the business. CIBC Private Wealth Group LLC bought a new position in shares of Orla Mining during the 3rd quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Orla Mining in the 4th quarter valued at $29,000. SBI Securities Co. Ltd. lifted its position in shares of Orla Mining by 67.9% during the 4th quarter. SBI Securities Co. Ltd. now owns 4,672 shares of the company's stock valued at $63,000 after acquiring an additional 1,889 shares during the period. TD Waterhouse Canada Inc. lifted its position in shares of Orla Mining by 197.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 5,313 shares of the company's stock valued at $71,000 after acquiring an additional 3,524 shares during the period. Finally, Osaic Holdings Inc. lifted its position in shares of Orla Mining by 82.2% during the 2nd quarter. Osaic Holdings Inc. now owns 10,161 shares of the company's stock valued at $102,000 after acquiring an additional 4,584 shares during the period. 43.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Zacks Research cut shares of Orla Mining from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 16th. TD Securities upgraded shares of Orla Mining from a "hold" rating to a "buy" rating in a report on Wednesday, May 20th. Finally, TD Cowen raised shares of Orla Mining from a "hold" rating to a "buy" rating in a research report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Orla Mining currently has a consensus rating of "Buy" and a consensus price target of $27.00.

Orla Mining Stock Performance

Shares of ORLA stock opened at $8.65 on Tuesday. The firm has a market capitalization of $2.99 billion, a PE ratio of 12.72 and a beta of 0.28. The firm has a fifty day simple moving average of $10.95 and a two-hundred day simple moving average of $14.39. The company has a current ratio of 1.06, a quick ratio of 0.88 and a debt-to-equity ratio of 0.39. Orla Mining Ltd. has a 12 month low of $8.43 and a 12 month high of $21.98.

Orla Mining Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, May 26th were issued a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Tuesday, May 26th. Orla Mining's dividend payout ratio is currently -599.40%.

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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