Orla Mining (NYSEAMERICAN:ORLA) Hits New 12-Month High – Here’s Why

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

Analysts Set New Price Targets

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

Orla Mining Stock Performance

The company has a market capitalization of $1.63 billion, a PE ratio of -101.40 and a beta of 0.83. The company has a debt-to-equity ratio of 0.18, a current ratio of 5.89 and a quick ratio of 5.02.

Orla Mining (NYSEAMERICAN:ORLA) last announced its quarterly earnings data on Monday, August 12th. The company reported $0.07 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.07. Orla Mining had a positive return on equity of 14.36% and a negative net margin of 4.12%. The company had revenue of $84.57 million for the quarter. On average, research analysts forecast that Orla Mining Ltd. will post 0.23 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ORLA. 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 grew its holdings 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 valued at $4,969,000 after buying an additional 181,900 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Orla Mining in the 2nd quarter valued at $102,000. Allspring Global Investments Holdings LLC acquired a new position in Orla Mining in the 2nd quarter valued at $1,151,000. Finally, CIBC Asset Management Inc grew its holdings in Orla Mining by 7.9% in the 2nd quarter. CIBC Asset Management Inc now owns 293,268 shares of the company’s stock valued at $1,125,000 after buying an additional 21,576 shares in the last quarter. 43.04% of the stock is 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.