Orla Mining (NYSEAMERICAN:ORLA) Sets New 52-Week High – Here’s What Happened

Orla Mining Ltd. (NYSEAMERICAN:ORLA) shares hit a new 52-week high on Monday . The stock traded as high as $8.82 and last traded at $8.84, with a volume of 3750 shares trading hands. The stock had previously closed at $8.71.

Analyst Upgrades and Downgrades

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

Orla Mining Stock Performance

The company’s 50 day moving average is $6.48. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of -882.92 and a beta of 0.71. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.54 and a quick ratio of 3.95.

Institutional Investors Weigh In On Orla Mining

A number of large investors have recently modified their holdings of ORLA. Kitching Partners LLC acquired a new stake in Orla Mining during the 3rd quarter worth $48,000. Mariner LLC acquired a new stake in Orla Mining during the 4th quarter worth $58,000. Scotia Capital Inc. acquired a new stake in Orla Mining during the 4th quarter worth $67,000. Walleye Capital LLC acquired a new stake in Orla Mining during the 3rd quarter worth $69,000. Finally, DF Dent & Co. Inc. acquired a new stake in Orla Mining during the 3rd quarter worth $80,000. 43.04% of the stock is 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.