Orla Mining (NYSEAMERICAN:ORLA) Hits New 52-Week Low - Time to Sell?

Key Points

• Orla Mining shares hit a new 52-week low, trading as low as $8.94 and closing around $8.995, down from the prior close of $9.34.
• Despite the weakness, analysts still show a generally bullish view on the stock: the consensus rating is “Buy,” with a consensus price target of $27.00.
• The company recently paid a quarterly dividend of $0.015 per share, while institutional ownership remains significant at 43.04% of shares outstanding.

Orla Mining Ltd. (NYSEAMERICAN:ORLA - Get Free Report)'s stock price hit a new 52-week low on Thursday . The company traded as low as $8.94 and last traded at $8.9950, with a volume of 283269 shares traded. The stock had previously closed at $9.34.

Analysts Set New Price Targets

A number of analysts recently commented on ORLA shares. TD Cowen upgraded shares of Orla Mining from a "hold" rating to a "buy" rating in a research note on Wednesday, May 20th. Zacks Research cut shares of Orla Mining from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 16th. Finally, TD Securities upgraded Orla Mining from a "hold" rating to a "buy" rating in a research 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $27.00.

Orla Mining Stock Down 5.6%

The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.88. The company has a market cap of $3.05 billion, a P/E ratio of 12.92 and a beta of 0.28. The company has a 50 day moving average of $11.31 and a 200-day moving average of $14.50.

Orla Mining Announces Dividend

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

Institutional Investors Weigh In On Orla Mining

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its holdings in Orla Mining by 279.9% during the 4th quarter. Van ECK Associates Corp now owns 19,391,604 shares of the company's stock valued at $261,201,000 after purchasing an additional 14,287,477 shares during the period. Millennium Management LLC lifted its position in shares of Orla Mining by 992.0% in the 3rd quarter. Millennium Management LLC now owns 9,066,678 shares of the company's stock worth $97,814,000 after purchasing an additional 8,236,385 shares during the period. Vanguard Group Inc. raised its stake in Orla Mining by 152.1% in the fourth quarter. Vanguard Group Inc. now owns 8,202,861 shares of the company's stock worth $110,320,000 after buying an additional 4,948,805 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Orla Mining by 1.0% in the fourth quarter. Franklin Resources Inc. now owns 7,686,849 shares of the company's stock worth $103,386,000 after buying an additional 74,925 shares during the period. Finally, Amundi boosted its position in Orla Mining by 35.5% during the 3rd quarter. Amundi now owns 4,721,047 shares of the company's stock valued at $54,481,000 after acquiring an additional 1,237,832 shares in the last quarter. 43.04% of the stock is currently 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.

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