Orla Mining (NYSEAMERICAN:ORLA) Hits New 52-Week High – Here’s What Happened

Orla Mining Ltd. (NYSEAMERICAN:ORLA) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $7.72 and last traded at $7.59, with a volume of 141097 shares traded. The stock had previously closed at $7.25.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ORLA. Scotiabank raised Orla Mining from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 27th. TD Securities upgraded shares of Orla Mining to a “hold” rating in a research note on Tuesday, February 4th. Finally, TD Cowen started coverage on shares of Orla Mining in a research report on Tuesday, February 4th. They issued a “hold” rating for the company. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $6.13.

Orla Mining Stock Performance

The firm has a fifty day simple moving average of $6.27. The firm has a market capitalization of $2.45 billion, a P/E ratio of -756.84 and a beta of 0.71. The company has a current ratio of 4.54, a quick ratio of 3.95 and a debt-to-equity ratio of 0.12.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Kitching Partners LLC purchased a new position in Orla Mining in the 3rd quarter worth approximately $48,000. Mariner LLC purchased a new position in shares of Orla Mining during the fourth quarter valued at about $58,000. Scotia Capital Inc. bought a new position in Orla Mining in the fourth quarter worth about $67,000. Walleye Capital LLC bought a new stake in Orla Mining during the 3rd quarter valued at approximately $69,000. Finally, DF Dent & Co. Inc. purchased a new position in shares of Orla Mining in the 3rd quarter valued at approximately $80,000. 43.04% of the stock is owned by 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.