Orla Mining (NYSEAMERICAN:ORLA) Reaches New 12-Month High – What’s Next?

Shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) hit a new 52-week high on Wednesday . The company traded as high as $11.26 and last traded at $11.18, with a volume of 1298460 shares trading hands. The stock had previously closed at $11.07.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. TD Securities upgraded shares of Orla Mining to a “hold” rating in a research note on Tuesday, February 4th. TD Cowen assumed coverage on Orla Mining in a research report on Tuesday, February 4th. They set a “hold” rating on the stock. Finally, Stifel Canada raised 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $6.13.

Orla Mining Stock Down 1.1 %

The company has a market cap of $3.63 billion, a PE ratio of -1,125.87 and a beta of 0.71. The business has a fifty day simple moving average of $8.37 and a two-hundred day simple moving average of $6.10. The company has a current ratio of 4.54, a quick ratio of 3.95 and a debt-to-equity ratio of 0.12.

Institutional Trading of Orla Mining

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Baldwin Wealth Partners LLC MA lifted its holdings in Orla Mining by 11.4% in the first quarter. Baldwin Wealth Partners LLC MA now owns 15,600 shares of the company’s stock valued at $146,000 after acquiring an additional 1,600 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Orla Mining by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 116,293 shares of the company’s stock valued at $650,000 after purchasing an additional 1,665 shares during the last quarter. Walleye Capital LLC lifted its stake in shares of Orla Mining by 10.2% in the 4th quarter. Walleye Capital LLC now owns 19,128 shares of the company’s stock valued at $106,000 after purchasing an additional 1,764 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Orla Mining by 0.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 452,000 shares of the company’s stock worth $2,500,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Gotham Asset Management LLC increased its position in shares of Orla Mining by 11.8% during the 4th quarter. Gotham Asset Management LLC now owns 19,393 shares of the company’s stock worth $107,000 after purchasing an additional 2,048 shares during the last quarter. 43.04% of the stock is 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.