Orla Mining (NYSEAMERICAN:ORLA) Hits New 52-Week High – Here’s Why

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s share price hit a new 52-week high on Thursday . The company traded as high as $9.92 and last traded at $9.88, with a volume of 556179 shares. The stock had previously closed at $9.28.

Analyst Ratings Changes

Several research analysts recently commented on the stock. TD Securities upgraded shares of Orla Mining to a “hold” rating in a report on Tuesday, February 4th. TD Cowen began coverage on Orla Mining in a research note on Tuesday, February 4th. They issued a “hold” rating on the stock. Finally, Stifel Canada upgraded Orla Mining to a “strong-buy” rating in a research note on Wednesday, March 19th. Two 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 company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $6.13.

Orla Mining Stock Performance

The firm’s fifty day moving average price is $7.97 and its 200-day moving average price is $5.94. The company has a market cap of $3.42 billion, a P/E ratio of -1,060.94 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.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ORLA. Mariner LLC acquired a new position in Orla Mining in the fourth quarter valued at about $58,000. Scotia Capital Inc. bought a new stake in shares of Orla Mining during the 4th quarter valued at $67,000. Walleye Capital LLC acquired a new position in Orla Mining in the third quarter valued at about $69,000. Two Sigma Advisers LP acquired a new stake in shares of Orla Mining in the 4th quarter valued at approximately $84,000. Finally, Sanctuary Advisors LLC bought a new position in shares of Orla Mining during the third quarter worth $90,000. 43.04% of the stock is currently 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.