Orla Mining (NYSEAMERICAN:ORLA) Sets New 52-Week High – Here’s Why

Orla Mining Ltd. (NYSEAMERICAN:ORLA) hit a new 52-week high on Wednesday . The stock traded as high as $6.54 and last traded at $6.50, with a volume of 577396 shares changing hands. The stock had previously closed at $6.21.

Analyst Ratings Changes

Several research firms have recently weighed in on ORLA. TD Securities upgraded Orla Mining to a “hold” rating in a research note on Tuesday. Desjardins raised shares of Orla Mining to a “moderate buy” rating in a report on Thursday, October 31st. TD Cowen began coverage on Orla Mining in a report on Tuesday. They set a “hold” rating for the company. Finally, Scotiabank raised shares of Orla Mining from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 27th. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Orla Mining has an average rating of “Moderate Buy” and a consensus target price of $6.13.

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 cap of $2.28 billion, a PE ratio of 26.83 and a beta of 0.71.

Orla Mining (NYSEAMERICAN:ORLA) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.06 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 net margin of 1.42% and a return on equity of 17.04%. As a group, equities research analysts anticipate that Orla Mining Ltd. will post 0.23 EPS for the current year.

Institutional Trading of Orla Mining

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted 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 in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Orla Mining by 2.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 177,136 shares of the company’s stock worth $679,000 after buying an additional 4,827 shares in the last quarter. D.A. Davidson & CO. lifted its position in Orla Mining by 2.0% during the fourth quarter. D.A. Davidson & CO. now owns 392,364 shares of the company’s stock valued at $2,174,000 after purchasing an additional 7,667 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Orla Mining in the 3rd quarter worth $43,000. Finally, Kitching Partners LLC purchased a new stake in Orla Mining during the third quarter valued at $48,000. Hedge funds and other institutional investors own 43.04% of the company’s stock.

About Orla Mining

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.