Orla Mining (NYSEAMERICAN:ORLA) Reaches New 1-Year High - Here's What Happened

Shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA - Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $11.26 and last traded at $11.18, with a volume of 1298460 shares changing hands. The stock had previously closed at $11.07.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ORLA. Stifel Canada raised shares of Orla Mining to a "strong-buy" rating in a research report on Wednesday, March 19th. TD Cowen started coverage on Orla Mining in a report on Tuesday, February 4th. They issued a "hold" rating for the company. Finally, TD Securities upgraded Orla Mining to a "hold" rating in a research note on Tuesday, February 4th. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $6.13.

Orla Mining Stock Performance

The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of -1,176.32 and a beta of 0.71. 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 stock's fifty day moving average is $8.47 and its two-hundred day moving average is $6.13.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Ritholtz Wealth Management bought a new position in Orla Mining during the 1st quarter valued at $164,000. Baldwin Wealth Partners LLC MA raised its stake in shares of Orla Mining by 11.4% in the 1st quarter. Baldwin Wealth Partners LLC MA now owns 15,600 shares of the company's stock valued at $146,000 after purchasing an additional 1,600 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of Orla Mining by 17.2% during the fourth quarter. Mackenzie Financial Corp now owns 145,765 shares of the company's stock worth $806,000 after purchasing an additional 21,353 shares during the last quarter. Two Sigma Advisers LP acquired a new position in Orla Mining in the fourth quarter worth about $84,000. Finally, Two Sigma Investments LP grew its stake in Orla Mining by 453.8% in the fourth quarter. Two Sigma Investments LP now owns 360,170 shares of the company's stock worth $1,995,000 after purchasing an additional 295,133 shares in the last quarter. Hedge funds and other institutional investors own 43.04% of the company's stock.

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.