Orla Mining (NYSEAMERICAN:ORLA) Reaches New 12-Month High – What’s Next?

Shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $5.82 and last traded at $5.82, with a volume of 407441 shares traded. The stock had previously closed at $5.54.

Wall Street Analyst Weigh In

ORLA has been the subject of several research reports. Desjardins raised shares of Orla Mining to a “moderate buy” rating in a research note on Thursday, October 31st. Scotiabank upgraded Orla Mining from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 27th.

Orla Mining Stock Performance

The company has a quick ratio of 3.95, a current ratio of 4.54 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of -597.40 and a beta of 0.75.

Institutional Investors Weigh In On Orla Mining

A number of institutional investors have recently added to or reduced their stakes in the business. Goehring & Rozencwajg Associates LLC grew its position in shares of Orla Mining by 16.3% in the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 1,295,214 shares of the company’s stock valued at $4,969,000 after buying an additional 181,900 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Orla Mining by 67.2% in the third quarter. The Manufacturers Life Insurance Company now owns 296,097 shares of the company’s stock worth $1,192,000 after acquiring an additional 118,961 shares during the period. CWA Asset Management Group LLC bought a new stake in Orla Mining in the third quarter valued at approximately $5,927,000. Allspring Global Investments Holdings LLC increased its position in Orla Mining by 50.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 450,000 shares of the company’s stock valued at $1,812,000 after purchasing an additional 150,000 shares during the period. Finally, Renaissance Technologies LLC bought a new position in Orla Mining during the 2nd quarter worth approximately $102,000. 43.04% of the stock is owned by 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.