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

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $5.15 and last traded at $5.15, with a volume of 450677 shares changing hands. The stock had previously closed at $5.03.

Wall Street Analyst Weigh In

Separately, Scotiabank lifted their price objective on Orla Mining from $5.75 to $6.00 and gave the stock a “sector perform” rating in a research report on Friday, October 11th.

Orla Mining Trading Up 2.2 %

The company has a quick ratio of 5.02, a current ratio of 5.89 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $1.65 billion, a P/E ratio of -100.50 and a beta of 0.83.

Orla Mining (NYSEAMERICAN:ORLA) last issued its earnings results on Monday, August 12th. The company reported $0.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.07. The business had revenue of $84.57 million for the quarter. Orla Mining had a negative net margin of 4.12% and a positive return on equity of 14.36%. Analysts predict that Orla Mining Ltd. will post 0.23 earnings per share for the current fiscal year.

Institutional Trading of Orla Mining

Several hedge funds have recently added to or reduced their stakes in ORLA. Allspring Global Investments Holdings LLC acquired a new stake in Orla Mining during the 2nd quarter valued at $1,151,000. Edmond DE Rothschild Holding S.A. acquired a new position in Orla Mining in the 1st quarter valued at $893,000. Goehring & Rozencwajg Associates LLC increased its position in Orla Mining by 16.3% in the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 1,295,214 shares of the company’s stock worth $4,969,000 after buying an additional 181,900 shares during the period. U S Global Investors Inc. grew its stake in shares of Orla Mining by 20.7% in the second quarter. U S Global Investors Inc. now owns 301,660 shares of the company’s stock worth $1,282,000 after acquiring an additional 51,660 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Orla Mining by 92.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,883 shares of the company’s stock worth $218,000 after purchasing an additional 27,315 shares during the last quarter. 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.