Orla Mining (NYSEAMERICAN:ORLA) Reaches New 52-Week High – Still a Buy?

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $8.82 and last traded at $8.84, with a volume of 3750 shares traded. The stock had previously closed at $8.71.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ORLA shares. TD Securities upgraded Orla Mining to a “hold” rating in a report on Tuesday, February 4th. TD Cowen initiated coverage on Orla Mining in a report on Tuesday, February 4th. They set a “hold” rating on the stock. Finally, Scotiabank raised Orla Mining from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 27th. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $6.13.

Orla Mining Stock Down 1.3 %

The company has a quick ratio of 3.95, a current ratio of 4.54 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average of $6.63. The stock has a market capitalization of $2.94 billion, a P/E ratio of -911.09 and a beta of 0.71.

Institutional Investors Weigh In On Orla Mining

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC raised its position in Orla Mining by 17.3% in the 4th quarter. FMR LLC now owns 24,065,292 shares of the company’s stock valued at $133,264,000 after buying an additional 3,553,481 shares during the last quarter. Franklin Resources Inc. raised its position in Orla Mining by 0.4% in the 4th quarter. Franklin Resources Inc. now owns 7,578,812 shares of the company’s stock valued at $41,914,000 after buying an additional 31,700 shares during the last quarter. Amundi raised its position in Orla Mining by 6.7% in the 4th quarter. Amundi now owns 2,475,689 shares of the company’s stock valued at $14,483,000 after buying an additional 155,200 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new stake in Orla Mining in the 4th quarter valued at $11,944,000. Finally, CWA Asset Management Group LLC raised its position in Orla Mining by 20.6% in the 4th quarter. CWA Asset Management Group LLC now owns 1,786,415 shares of the company’s stock valued at $9,897,000 after buying an additional 304,748 shares during the last quarter. 43.04% of the stock is owned by hedge funds and other institutional investors.

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.