Orla Mining (NYSEAMERICAN:ORLA) Reaches New 1-Year High - Should You Buy?

Orla Mining Ltd. (NYSEAMERICAN:ORLA - Get Free Report) shares hit a new 52-week high during trading on Thursday . The company traded as high as $6.25 and last traded at $6.22, with a volume of 249338 shares trading hands. The stock had previously closed at $6.02.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ORLA. Scotiabank raised Orla Mining from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, November 27th. Desjardins upgraded shares of Orla Mining to a "moderate buy" rating in a research note on Thursday, October 31st.

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 $2.00 billion, a PE ratio of -620.38 and a beta of 0.71.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ORLA. D.A. Davidson & CO. raised its position in Orla Mining by 2.0% in the fourth quarter. D.A. Davidson & CO. now owns 392,364 shares of the company's stock worth $2,174,000 after acquiring an additional 7,667 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Orla Mining by 0.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 452,000 shares of the company's stock valued at $2,500,000 after purchasing an additional 2,000 shares in the last quarter. Quattro Financial Advisors LLC lifted its position in Orla Mining by 106.9% in the fourth quarter. Quattro Financial Advisors LLC now owns 118,615 shares of the company's stock valued at $707,000 after purchasing an additional 61,280 shares during the last quarter. Stratos Wealth Advisors LLC boosted its holdings in shares of Orla Mining by 39.4% during the fourth quarter. Stratos Wealth Advisors LLC now owns 50,185 shares of the company's stock worth $278,000 after purchasing an additional 14,185 shares during the period. Finally, CWA Asset Management Group LLC lifted 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 purchasing an additional 304,748 shares during the period. 43.04% of the stock is currently owned by institutional investors and hedge funds.

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.