Orla Mining (NYSEAMERICAN:ORLA) Hits New 52-Week High – Here’s What Happened

Shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) reached a new 52-week high during trading on Wednesday . The company traded as high as $6.54 and last traded at $6.50, with a volume of 577396 shares traded. The stock had previously closed at $6.21.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ORLA. TD Cowen assumed coverage on shares of Orla Mining in a research note on Tuesday. They set a “hold” rating on the stock. Desjardins raised Orla Mining to a “moderate buy” rating in a research report on Thursday, October 31st. Finally, Scotiabank raised Orla Mining from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 27th.

Orla Mining Stock Up 4.7 %

The firm has a market cap of $2.09 billion, a P/E ratio of -649.35 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.

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

Hedge Funds Weigh In On Orla Mining

Several institutional investors have recently made changes to their positions in ORLA. CWA Asset Management Group LLC raised its stake in shares of Orla Mining by 20.6% during the 4th quarter. CWA Asset Management Group LLC now owns 1,786,415 shares of the company’s stock worth $9,897,000 after buying an additional 304,748 shares during the period. The Manufacturers Life Insurance Company raised its position in Orla Mining by 67.2% during 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. Barclays PLC lifted its holdings in Orla Mining by 86.5% during the third quarter. Barclays PLC now owns 47,177 shares of the company’s stock valued at $189,000 after purchasing an additional 21,877 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Orla Mining by 50.0% in the third 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, JPMorgan Chase & Co. increased its stake in shares of 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 purchasing an additional 205,911 shares in the last quarter. 43.04% of the stock is owned by hedge funds and other institutional investors.

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.