Orla Mining (NYSEAMERICAN:ORLA) Hits New 12-Month High – Should You Buy?

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $5.82 and last traded at $5.82, with a volume of 407441 shares trading hands. The stock had previously closed at $5.54.

Analysts Set New Price Targets

ORLA has been the topic of a number of research reports. Scotiabank raised shares of Orla Mining from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 27th. Desjardins upgraded Orla Mining to a “moderate buy” rating in a research report 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 firm has a market capitalization of $1.87 billion, a P/E ratio of -583.42 and a beta of 0.75.

Institutional Investors Weigh In On Orla Mining

Several large investors have recently modified their holdings of ORLA. CWA Asset Management Group LLC acquired a new position in Orla Mining in the third quarter valued at approximately $5,927,000. D.A. Davidson & CO. acquired a new position in shares of Orla Mining during the 3rd quarter valued at $1,539,000. Allspring Global Investments Holdings LLC bought a new position in Orla Mining during the second quarter worth $1,151,000. JPMorgan Chase & Co. boosted its stake in Orla Mining by 262.3% during the third quarter. JPMorgan Chase & Co. now owns 284,408 shares of the company’s stock worth $1,138,000 after acquiring an additional 205,911 shares in the last quarter. Finally, Goehring & Rozencwajg Associates LLC grew its holdings in Orla Mining by 16.3% in the second quarter. Goehring & Rozencwajg Associates LLC now owns 1,295,214 shares of the company’s stock worth $4,969,000 after purchasing an additional 181,900 shares during the period. 43.04% of the stock is currently owned by institutional investors and hedge funds.

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.