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

Orla Mining Ltd. (NYSEAMERICAN:ORLA) reached a new 52-week high on Thursday . The stock traded as high as $4.81 and last traded at $4.81, with a volume of 322 shares trading hands. The stock had previously closed at $4.59.

Analysts Set New Price Targets

Separately, Scotiabank raised their price target on shares of Orla Mining from $5.75 to $6.00 and gave the company a “sector perform” rating in a report on Friday, October 11th.

Orla Mining Stock Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 5.89 and a quick ratio of 5.02. The company has a market cap of $1.51 billion, a price-to-earnings ratio of -91.80 and a beta of 0.83.

Orla Mining (NYSEAMERICAN:ORLA) last posted its quarterly earnings data on Monday, August 12th. The company reported $0.07 EPS for the quarter, meeting analysts’ consensus estimates of $0.07. The firm 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%. Sell-side analysts predict that Orla Mining Ltd. will post 0.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Orla Mining

Institutional investors have recently made changes to their positions in the stock. Edmond DE Rothschild Holding S.A. bought a new position in Orla Mining in the 1st quarter worth approximately $893,000. Goehring & Rozencwajg Associates LLC increased its holdings in shares of Orla Mining by 16.3% during the second quarter. Goehring & Rozencwajg Associates LLC now owns 1,295,214 shares of the company’s stock valued at $4,969,000 after purchasing an additional 181,900 shares during the period. Renaissance Technologies LLC acquired a new stake in Orla Mining in the second quarter worth about $102,000. Allspring Global Investments Holdings LLC bought a new position in Orla Mining in the 2nd quarter valued at about $1,151,000. Finally, CIBC Asset Management Inc increased its stake in Orla Mining by 7.9% during 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 during the period. 43.04% of the stock is owned by 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.