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

Shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA - Get Free Report) reached a new 52-week high on Wednesday . The stock traded as high as $6.54 and last traded at $6.50, with a volume of 577396 shares traded. The stock had previously closed at $6.21.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ORLA. TD Cowen started coverage on shares of Orla Mining in a research note on Tuesday. They set a "hold" rating for the company. Scotiabank raised Orla Mining from a "hold" rating to a "strong-buy" rating in a report on Wednesday, November 27th. TD Securities raised shares of Orla Mining to a "hold" rating in a report on Tuesday. Finally, Desjardins raised shares of Orla Mining to a "moderate buy" rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Orla Mining currently has an average rating of "Moderate Buy" and a consensus target price of $6.13.

Orla Mining Stock Up 1.8 %

The company has a debt-to-equity ratio of 0.12, a current ratio of 4.54 and a quick ratio of 3.95. The firm has a market capitalization of $2.32 billion, a P/E ratio of -721.28 and a beta of 0.71.

Orla Mining (NYSEAMERICAN:ORLA - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.03). The firm had revenue of $99.31 million for the quarter. Orla Mining had a net margin of 1.42% and a return on equity of 17.04%. As a group, research analysts expect that Orla Mining Ltd. will post 0.23 EPS for the current year.

Institutional Investors Weigh In On Orla Mining

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in Orla Mining during the 3rd quarter valued at $43,000. Kitching Partners LLC bought a new stake in Orla Mining in the 3rd quarter worth about $48,000. Walleye Capital LLC purchased a new position in Orla Mining in the 3rd quarter worth about $69,000. DF Dent & Co. Inc. purchased a new stake in shares of Orla Mining during the 3rd quarter valued at about $80,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of Orla Mining during the third quarter valued at approximately $90,000. 43.04% of the stock is owned by hedge funds and other institutional investors.

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.