Orla Mining (NYSEAMERICAN:ORLA) Sets New 12-Month High – Should You Buy?

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $5.39 and last traded at $5.38, with a volume of 223134 shares traded. The stock had previously closed at $4.99.

Analyst Ratings Changes

Several analysts have recently commented on ORLA shares. Scotiabank upgraded shares of Orla Mining from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 27th. Desjardins raised Orla Mining to a “moderate buy” rating in a report on Thursday, October 31st.

Orla Mining Stock Performance

The company has a current ratio of 4.54, a quick ratio of 3.95 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $1.76 billion, a P/E ratio of -546.45 and a beta of 0.76.

Institutional Investors Weigh In On Orla Mining

Hedge funds and other institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC purchased a new stake in shares of Orla Mining in the 3rd quarter worth about $43,000. Kitching Partners LLC purchased a new stake in shares of Orla Mining in the third quarter valued at about $48,000. Walleye Capital LLC acquired a new stake in shares of Orla Mining in the third quarter valued at approximately $69,000. DF Dent & Co. Inc. acquired a new stake in shares of Orla Mining in the third quarter valued at approximately $80,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of Orla Mining during the 3rd quarter worth approximately $90,000. 43.04% of the stock is currently owned by institutional investors and hedge funds.

Orla Mining Company Profile

Orla Mining Ltd. acquires, explores, develops, and exploits mineral properties. The company explores for gold, silver, zinc, lead, and copper deposits. It owns 100% interests in the Camino Rojo project that consists of seven concessions covering an area of 138,636 hectares located in Zacatecas, Mexico; Cerro Quema project totaling an area of 15,000 hectares located in the Azuero Peninsula, Panama; and the South Railroad project consisting of an area of 21,000 hectares located in Elko, Nevada.