Orla Mining (NYSEAMERICAN:ORLA) Hits New 52-Week High – Still a Buy?

Orla Mining Ltd. (NYSEAMERICAN:ORLA) hit a new 52-week high during trading on Friday . The stock traded as high as $13.95 and last traded at $13.9450, with a volume of 737594 shares traded. The stock had previously closed at $13.48.

Analysts Set New Price Targets

A number of research analysts have recently commented on ORLA shares. CIBC reiterated an “outperform” rating on shares of Orla Mining in a report on Monday, October 20th. Scotiabank reiterated an “outperform” rating on shares of Orla Mining in a research note on Thursday, October 23rd. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Orla Mining in a report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Orla Mining has an average rating of “Moderate Buy” and a consensus price target of $27.00.

Orla Mining Stock Performance

The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.88 and a current ratio of 1.07. The firm has a market capitalization of $4.79 billion, a price-to-earnings ratio of 108.47 and a beta of 0.33. The firm’s 50-day moving average price is $11.34 and its two-hundred day moving average price is $10.87.

Institutional Trading of Orla Mining

Several institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. raised its stake in shares of Orla Mining by 4.6% in the first quarter. Russell Investments Group Ltd. now owns 24,735 shares of the company’s stock worth $231,000 after acquiring an additional 1,093 shares during the last quarter. Parvin Asset Management LLC grew its stake in shares of Orla Mining by 2.2% during the third quarter. Parvin Asset Management LLC now owns 69,675 shares of the company’s stock valued at $752,000 after purchasing an additional 1,475 shares during the last quarter. Neuberger Berman Group LLC increased its holdings in shares of Orla Mining by 13.9% in the third quarter. Neuberger Berman Group LLC now owns 13,374 shares of the company’s stock valued at $144,000 after purchasing an additional 1,637 shares in the last quarter. XML Financial LLC raised its position in Orla Mining by 7.2% in the 2nd quarter. XML Financial LLC now owns 24,550 shares of the company’s stock worth $246,000 after purchasing an additional 1,650 shares during the last quarter. Finally, TD Waterhouse Canada Inc. raised its position in Orla Mining by 50.0% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 5,368 shares of the company’s stock worth $53,000 after purchasing an additional 1,789 shares during the last quarter. Institutional investors and hedge funds own 43.04% of the company’s stock.

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.