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

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $7.62 and last traded at $7.13, with a volume of 1254509 shares traded. The stock had previously closed at $7.22.

Analyst Ratings Changes

Several research firms recently issued reports on ORLA. TD Cowen started coverage on shares of Orla Mining in a report on Tuesday, February 4th. They issued a “hold” rating on the stock. TD Securities upgraded shares of Orla Mining to a “hold” rating in a research note on Tuesday, February 4th. Scotiabank raised shares of Orla Mining from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 27th. Finally, Desjardins raised Orla Mining to a “moderate buy” rating in a report on Thursday, October 31st. Two 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 currently has an average rating of “Moderate Buy” and a consensus price target of $6.13.

Orla Mining Stock Performance

The company has a market capitalization of $2.21 billion, a PE ratio of 30.83 and a beta of 0.71. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.54 and a quick ratio of 3.95.

Orla Mining (NYSEAMERICAN:ORLA) last posted its quarterly 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). Orla Mining had a return on equity of 17.04% and a net margin of 1.42%. The business had revenue of $99.31 million during the quarter. On average, analysts predict that Orla Mining Ltd. will post 0.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Orla Mining

Several institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC boosted its holdings in shares of Orla Mining by 50.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 450,000 shares of the company’s stock valued at $1,812,000 after acquiring an additional 150,000 shares during the period. International Assets Investment Management LLC acquired a new position in Orla Mining during the 3rd quarter valued at about $43,000. CWA Asset Management Group LLC acquired a new position in Orla Mining during the 3rd quarter valued at about $5,927,000. Dynamic Technology Lab Private Ltd bought a new position in Orla Mining in the 3rd quarter worth about $242,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Orla Mining by 67.2% in the third quarter. The Manufacturers Life Insurance Company now owns 296,097 shares of the company’s stock valued at $1,192,000 after purchasing an additional 118,961 shares during the period. 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.