Orla Mining (NYSEAMERICAN:ORLA) Reaches New 12-Month High – Still a Buy?

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $7.62 and last traded at $7.13, with a volume of 1254509 shares traded. The stock had previously closed at $7.22.

Analyst Ratings Changes

ORLA has been the topic of several analyst reports. Scotiabank upgraded Orla Mining from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 27th. TD Securities raised shares of Orla Mining to a “hold” rating in a research note on Tuesday, February 4th. TD Cowen began coverage on shares of Orla Mining in a research report on Tuesday, February 4th. They set a “hold” rating for the company. Finally, Desjardins raised shares of Orla Mining to a “moderate buy” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Orla Mining currently has an average rating of “Moderate Buy” and a consensus target price of $6.13.

Orla Mining Stock Performance

The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.95 and a current ratio of 4.54. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of 30.83 and a beta of 0.71.

Orla Mining (NYSEAMERICAN:ORLA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). The company had revenue of $99.31 million during the quarter. Orla Mining had a net margin of 1.42% and a return on equity of 17.04%. As a group, research analysts predict that Orla Mining Ltd. will post 0.23 earnings per share for the current year.

Hedge Funds Weigh In On Orla Mining

Several large investors have recently added to or reduced their stakes in the business. CWA Asset Management Group LLC raised its position in shares of Orla Mining by 20.6% in the 4th quarter. CWA Asset Management Group LLC now owns 1,786,415 shares of the company’s stock worth $9,897,000 after buying an additional 304,748 shares during the period. The Manufacturers Life Insurance Company increased its stake in Orla Mining by 67.2% during the third quarter. The Manufacturers Life Insurance Company now owns 296,097 shares of the company’s stock worth $1,192,000 after acquiring an additional 118,961 shares during the last quarter. Barclays PLC raised its holdings in shares of Orla Mining by 86.5% in the 3rd quarter. Barclays PLC now owns 47,177 shares of the company’s stock worth $189,000 after purchasing an additional 21,877 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Orla Mining by 262.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 284,408 shares of the company’s stock valued at $1,138,000 after purchasing an additional 205,911 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Orla Mining by 50.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 450,000 shares of the company’s stock valued at $1,812,000 after purchasing an additional 150,000 shares in the last quarter. 43.04% of the stock is currently owned by hedge funds and other institutional investors.

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.