Orla Mining (NYSEAMERICAN:ORLA) Sets New 1-Year High – Here’s What Happened

Orla Mining Ltd. (NYSEAMERICAN:ORLA) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $11.95 and last traded at $11.50, with a volume of 1693251 shares changing hands. The stock had previously closed at $11.27.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ORLA shares. TD Cowen initiated coverage on Orla Mining in a research report on Tuesday, February 4th. They set a “hold” rating for the company. Stifel Canada upgraded Orla Mining to a “strong-buy” rating in a research report on Wednesday, March 19th. Finally, TD Securities upgraded shares of Orla Mining to a “hold” rating in a report on Tuesday, February 4th. Two analysts have rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $6.13.

Orla Mining Price Performance

The company has a 50 day simple moving average of $8.56 and a 200-day simple moving average of $6.17. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of -1,148.85 and a beta of 0.71. The company has a quick ratio of 3.95, a current ratio of 4.54 and a debt-to-equity ratio of 0.12.

Institutional Investors Weigh In On Orla Mining

Large investors have recently added to or reduced their stakes in the stock. Mariner LLC bought a new position in shares of Orla Mining in the fourth quarter valued at approximately $58,000. Scotia Capital Inc. acquired a new position in Orla Mining in the fourth quarter worth approximately $67,000. Two Sigma Advisers LP bought a new position in shares of Orla Mining in the fourth quarter valued at $84,000. Sanctuary Advisors LLC acquired a new stake in shares of Orla Mining during the 3rd quarter valued at $90,000. Finally, Walleye Capital LLC boosted its stake in shares of Orla Mining by 10.2% during the 4th quarter. Walleye Capital LLC now owns 19,128 shares of the company’s stock worth $106,000 after acquiring an additional 1,764 shares in the last quarter. 43.04% of the stock is owned by institutional investors and hedge funds.

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.