Orla Mining (NYSEAMERICAN:ORLA) Sets New 1-Year High – Still a Buy?

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $6.25 and last traded at $6.22, with a volume of 249338 shares trading hands. The stock had previously closed at $6.02.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ORLA shares. Desjardins upgraded Orla Mining to a “moderate buy” rating in a report on Thursday, October 31st. Scotiabank raised shares of Orla Mining from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 27th.

Orla Mining Stock Performance

The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of -619.38 and a beta of 0.69. The company has a quick ratio of 3.95, a current ratio of 4.54 and a debt-to-equity ratio of 0.12.

Orla Mining (NYSEAMERICAN:ORLA) last posted its 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). Orla Mining had a net margin of 1.42% and a return on equity of 17.04%. The company had revenue of $99.31 million during the quarter. Research analysts forecast that Orla Mining Ltd. will post 0.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. CWA Asset Management Group LLC lifted its holdings in shares of Orla Mining by 20.6% during the fourth quarter. CWA Asset Management Group LLC now owns 1,786,415 shares of the company’s stock worth $9,897,000 after purchasing an additional 304,748 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Orla Mining by 67.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 296,097 shares of the company’s stock worth $1,192,000 after acquiring an additional 118,961 shares during the period. Barclays PLC boosted its holdings in shares of Orla Mining by 86.5% in the third quarter. Barclays PLC now owns 47,177 shares of the company’s stock valued at $189,000 after acquiring an additional 21,877 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake 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 worth $1,812,000 after acquiring an additional 150,000 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Orla Mining by 262.3% during the third quarter. JPMorgan Chase & Co. now owns 284,408 shares of the company’s stock worth $1,138,000 after purchasing an additional 205,911 shares in the last quarter. 43.04% of the stock is currently owned by institutional investors and hedge funds.

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.