Orla Mining (NYSEAMERICAN:ORLA) Reaches New 12-Month High – Still a Buy?

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $9.64 and last traded at $9.52, with a volume of 1140039 shares trading hands. The stock had previously closed at $9.30.

Analysts Set New Price Targets

ORLA has been the topic of a number of recent analyst reports. TD Cowen assumed coverage on Orla Mining in a research note on Tuesday, February 4th. They set 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. Finally, Stifel Canada raised shares of Orla Mining to a “strong-buy” rating in a report on Wednesday, March 19th. Two equities research analysts have rated the stock with a hold rating, one has given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $6.13.

Orla Mining Price Performance

The stock has a market capitalization of $3.06 billion, a PE ratio of -947.05 and a beta of 0.71. 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 company has a fifty day simple moving average of $7.32.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Mariner LLC purchased a new stake in Orla Mining during the fourth quarter valued at about $58,000. Scotia Capital Inc. purchased a new position in shares of Orla Mining during the 4th quarter valued at about $67,000. Two Sigma Advisers LP bought a new stake in Orla Mining in the 4th quarter worth approximately $84,000. Walleye Capital LLC purchased a new stake in Orla Mining in the third quarter worth approximately $69,000. Finally, Gotham Asset Management LLC grew its position in Orla Mining by 11.8% during the fourth 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 during the last quarter. 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.