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

Shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) reached a new 52-week high on Wednesday . The stock traded as high as $9.64 and last traded at $9.52, with a volume of 1140039 shares. The stock had previously closed at $9.30.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ORLA shares. TD Cowen assumed coverage on shares of Orla Mining in a report on Tuesday, February 4th. They issued a “hold” rating for the company. Stifel Canada upgraded Orla Mining to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, TD Securities upgraded Orla Mining to a “hold” rating in a report on Tuesday, February 4th. 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 company’s stock. Based on data from MarketBeat, Orla Mining presently has a consensus rating of “Buy” and a consensus target price of $6.13.

Orla Mining Price Performance

The stock’s fifty day moving average price is $7.47. The stock has a market cap of $2.65 billion, a P/E ratio of -820.18 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 Trading of Orla Mining

Several institutional investors have recently made changes to their positions in ORLA. Mariner LLC acquired a new position in shares of Orla Mining during the fourth quarter valued at $58,000. Scotia Capital Inc. acquired a new stake in Orla Mining during the 4th quarter worth $67,000. Walleye Capital LLC bought a new position in shares of Orla Mining during the 3rd quarter valued at about $69,000. DF Dent & Co. Inc. acquired a new position in shares of Orla Mining in the third quarter valued at approximately $80,000. Finally, Two Sigma Advisers LP bought a new position in Orla Mining during the 4th quarter worth about $84,000. 43.04% of the stock is currently 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.