Orla Mining (NYSEAMERICAN:ORLA) Sets New 52-Week High – Time to Buy?

Orla Mining Ltd. (NYSEAMERICAN:ORLA) shares reached a new 52-week high on Tuesday . The company traded as high as $11.95 and last traded at $11.50, with a volume of 1693251 shares traded. The stock had previously closed at $11.27.

Wall Street Analyst Weigh In

ORLA has been the subject of several recent research reports. TD Cowen began coverage on shares of Orla Mining in a research note on Tuesday, February 4th. They issued a “hold” rating for the company. TD Securities raised shares of Orla Mining to a “hold” rating in a research note on Tuesday, February 4th. Finally, Stifel Canada raised shares of Orla Mining to a “strong-buy” rating in a report on Wednesday, March 19th. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $6.13.

Orla Mining Stock Performance

The business has a 50-day moving average of $8.56 and a two-hundred day moving average of $6.17. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.54 and a quick ratio of 3.95. The company has a market cap of $3.71 billion, a P/E ratio of -1,148.85 and a beta of 0.71.

Institutional Trading of Orla Mining

Institutional investors have recently made changes to their positions in the company. Mariner LLC acquired a new position in Orla Mining in the 4th quarter valued at about $58,000. Scotia Capital Inc. purchased a new position in Orla Mining in the fourth quarter valued at approximately $67,000. Two Sigma Advisers LP purchased a new stake in Orla Mining in the fourth quarter valued at $84,000. Sanctuary Advisors LLC acquired a new stake in shares of Orla Mining in the 3rd quarter valued at about $90,000. Finally, Walleye Capital LLC grew its position in shares of Orla Mining by 10.2% during the fourth quarter. Walleye Capital LLC now owns 19,128 shares of the company’s stock worth $106,000 after acquiring an additional 1,764 shares during the last quarter. 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.