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

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s stock price hit a new 52-week high 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.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Scotiabank upgraded shares of Orla Mining from a “hold” rating to a “strong-buy” rating in a research note 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 assumed coverage on shares of Orla Mining in a research note on Tuesday, February 4th. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $6.13.

Orla Mining Trading Up 4.6 %

The company has a 50 day simple moving average of $6.48. 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 $2.94 billion, a P/E ratio of -882.92 and a beta of 0.71.

Hedge Funds Weigh In On Orla Mining

A number of large investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its holdings in shares of Orla Mining by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 116,293 shares of the company’s stock valued at $650,000 after purchasing an additional 1,665 shares in the last quarter. Walleye Capital LLC increased its holdings in Orla Mining by 10.2% during the 4th quarter. Walleye Capital LLC now owns 19,128 shares of the company’s stock valued at $106,000 after acquiring an additional 1,764 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Orla Mining by 0.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 452,000 shares of the company’s stock valued at $2,500,000 after acquiring an additional 2,000 shares in the last quarter. Gotham Asset Management LLC increased its holdings in Orla Mining by 11.8% during the 4th quarter. Gotham Asset Management LLC now owns 19,393 shares of the company’s stock valued at $107,000 after acquiring an additional 2,048 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its stake in shares of Orla Mining by 2.0% during the 4th quarter. D.A. Davidson & CO. now owns 392,364 shares of the company’s stock worth $2,174,000 after purchasing an additional 7,667 shares during the last quarter. 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.