Orla Mining (NYSEAMERICAN:ORLA) Hits New 1-Year High – What’s Next?

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $6.54 and last traded at $6.50, with a volume of 577396 shares changing hands. The stock had previously closed at $6.21.

Wall Street Analysts Forecast Growth

ORLA has been the subject of a number of research reports. Scotiabank raised Orla Mining from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 27th. TD Securities raised Orla Mining to a “hold” rating in a research report on Tuesday. TD Cowen started coverage on shares of Orla Mining in a report on Tuesday. They set a “hold” rating on the stock. Finally, Desjardins upgraded Orla Mining to a “moderate buy” rating in a research note on Thursday, October 31st. Two equities research 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. According to MarketBeat.com, Orla Mining currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.13.

Orla Mining Stock Up 2.6 %

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 $2.28 billion, a PE ratio of 26.83 and a beta of 0.71.

Orla Mining (NYSEAMERICAN:ORLA) last posted its earnings results on Tuesday, November 12th. The company reported $0.06 earnings per share 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 company had revenue of $99.31 million for the quarter. On average, sell-side analysts expect that Orla Mining Ltd. will post 0.23 earnings per share for the current year.

Institutional Trading of Orla Mining

Several institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC acquired a new position in Orla Mining in the second quarter valued at approximately $102,000. The Manufacturers Life Insurance Company grew its holdings in Orla Mining by 2.8% during the second quarter. The Manufacturers Life Insurance Company now owns 177,136 shares of the company’s stock worth $679,000 after buying an additional 4,827 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Orla Mining by 50.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 450,000 shares of the company’s stock valued at $1,812,000 after purchasing an additional 150,000 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Orla Mining during the third quarter worth about $43,000. Finally, CWA Asset Management Group LLC bought a new position in shares of Orla Mining in the third quarter valued at approximately $5,927,000. 43.04% of the stock is currently 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.