Orla Mining (NYSEAMERICAN:ORLA) Reaches New 12-Month High – Time to Buy?

Orla Mining Ltd. (NYSEAMERICAN:ORLA) shares hit a new 52-week high on Thursday . The company 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.

Wall Street Analyst Weigh In

Separately, Scotiabank lifted their price objective 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 Up 4.6 %

The company has a debt-to-equity ratio of 0.18, a quick ratio of 5.02 and a current ratio of 5.89. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of -98.30 and a beta of 0.83.

Orla Mining (NYSEAMERICAN:ORLA) last released its quarterly earnings results on Monday, August 12th. The company reported $0.07 EPS for the quarter, hitting the consensus estimate of $0.07. The company had revenue of $84.57 million for the quarter. Orla Mining had a positive return on equity of 14.36% and a negative net margin of 4.12%. As a group, equities analysts predict that Orla Mining Ltd. will post 0.23 EPS for the current year.

Institutional Investors Weigh In On Orla Mining

Several hedge funds have recently modified their holdings of ORLA. Goehring & Rozencwajg Associates LLC raised its holdings in Orla Mining by 16.3% during the second quarter. Goehring & Rozencwajg Associates LLC now owns 1,295,214 shares of the company’s stock worth $4,969,000 after purchasing an additional 181,900 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Orla Mining by 4.3% during the 2nd quarter. American Century Companies Inc. now owns 412,400 shares of the company’s stock worth $1,583,000 after buying an additional 17,100 shares in the last quarter. U S Global Investors Inc. lifted its holdings in shares of Orla Mining by 20.7% in the 2nd quarter. U S Global Investors Inc. now owns 301,660 shares of the company’s stock valued at $1,282,000 after buying an additional 51,660 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of Orla Mining in the second quarter valued at approximately $1,151,000. Finally, CIBC Asset Management Inc grew its holdings in Orla Mining by 7.9% during the second quarter. CIBC Asset Management Inc now owns 293,268 shares of the company’s stock worth $1,125,000 after acquiring an additional 21,576 shares during the period. 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.