Orla Mining (NYSEAMERICAN:ORLA) Sets New 12-Month High – Time to Buy?

Orla Mining Ltd. (NYSEAMERICAN:ORLA) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $7.72 and last traded at $7.59, with a volume of 141097 shares traded. The stock had previously closed at $7.25.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. TD Cowen initiated coverage on Orla Mining in a research note on Tuesday, February 4th. They issued a “hold” rating for the company. TD Securities upgraded Orla Mining to a “hold” rating in a report on Tuesday, February 4th. Finally, Scotiabank upgraded Orla Mining from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 27th. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $6.13.

Orla Mining Trading Up 5.0 %

The firm’s 50-day simple moving average is $6.27. The company has a market cap of $2.45 billion, a price-to-earnings ratio of -756.84 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 Investors Weigh In On Orla Mining

Large investors have recently made changes to their positions in the company. FMR LLC increased its position in Orla Mining by 17.3% in the 4th quarter. FMR LLC now owns 24,065,292 shares of the company’s stock worth $133,264,000 after buying an additional 3,553,481 shares during the period. Hillsdale Investment Management Inc. bought a new position in shares of Orla Mining in the fourth quarter valued at about $11,944,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Orla Mining during the 4th quarter worth $9,668,000. The Manufacturers Life Insurance Company increased its holdings in shares of Orla Mining by 197.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 880,354 shares of the company’s stock worth $4,882,000 after acquiring an additional 584,257 shares in the last quarter. Finally, Intact Investment Management Inc. acquired a new stake in shares of Orla Mining in the fourth quarter valued at about $3,186,000. Institutional investors 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.