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

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $7.72 and last traded at $7.59, with a volume of 141097 shares trading hands. The stock had previously closed at $7.25.

Analysts Set New Price Targets

Several research firms recently weighed in on ORLA. TD Securities raised Orla Mining to a “hold” rating in a research report on Tuesday, February 4th. TD Cowen began coverage on Orla Mining in a research note on Tuesday, February 4th. They issued a “hold” rating on the stock. Finally, Scotiabank upgraded Orla Mining from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 27th. Two investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $6.13.

Orla Mining Stock Performance

The company has a market cap of $2.53 billion, a P/E ratio of -784.22 and a beta of 0.71. The company has a 50 day moving average price of $6.37. The company has a current ratio of 4.54, a quick ratio of 3.95 and a debt-to-equity ratio of 0.12.

Institutional Trading of Orla Mining

Several large investors have recently made changes to their positions in ORLA. Kitching Partners LLC bought a new stake in shares of Orla Mining in the 3rd quarter worth approximately $48,000. Mariner LLC bought a new stake in shares of Orla Mining in the 4th quarter worth approximately $58,000. Scotia Capital Inc. bought a new position in shares of Orla Mining during the 4th quarter worth approximately $67,000. Walleye Capital LLC bought a new position in shares of Orla Mining during the 3rd quarter worth approximately $69,000. Finally, DF Dent & Co. Inc. bought a new position in shares of Orla Mining during the 3rd quarter worth approximately $80,000. 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.