Orla Mining (NYSEAMERICAN:ORLA) Sets New 12-Month High – Here’s Why

Orla Mining Ltd. (NYSEAMERICAN:ORLA) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $6.25 and last traded at $6.22, with a volume of 249338 shares. The stock had previously closed at $6.02.

Wall Street Analysts Forecast Growth

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

Orla Mining Stock Up 3.0 %

The firm has a market cap of $1.99 billion, a PE ratio of -619.38 and a beta of 0.69. The company has a current ratio of 4.54, a quick ratio of 3.95 and a debt-to-equity ratio of 0.12.

Orla Mining (NYSEAMERICAN:ORLA) last announced its earnings results on Tuesday, November 12th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). The firm had revenue of $99.31 million for the quarter. Orla Mining had a return on equity of 17.04% and a net margin of 1.42%. As a group, equities research analysts predict that Orla Mining Ltd. will post 0.23 earnings per share for the current year.

Institutional Trading of Orla Mining

A number of hedge funds have recently added to or reduced their stakes in the business. CWA Asset Management Group LLC raised its position in shares of 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 worth $9,897,000 after buying an additional 304,748 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Orla Mining by 0.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 452,000 shares of the company’s stock worth $2,500,000 after acquiring an additional 2,000 shares during the last quarter. National Bank of Canada FI raised its holdings in shares of Orla Mining by 21.4% in the 3rd quarter. National Bank of Canada FI now owns 421,108 shares of the company’s stock worth $1,687,000 after purchasing an additional 74,293 shares during the period. D.A. Davidson & CO. acquired a new position in shares of Orla Mining in the 3rd quarter valued at about $1,539,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Orla Mining by 67.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 296,097 shares of the company’s stock worth $1,192,000 after purchasing an additional 118,961 shares during the period. 43.04% of the stock is 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.