Orla Mining (NYSEAMERICAN:ORLA) Hits New 52-Week High – Time to Buy?

Orla Mining Ltd. (NYSEAMERICAN:ORLA) shares reached a new 52-week high on Wednesday . The company traded as high as $11.26 and last traded at $11.18, with a volume of 1298460 shares trading hands. The stock had previously closed at $11.07.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ORLA. Stifel Canada raised Orla Mining to a “strong-buy” rating in a report on Wednesday, March 19th. TD Securities raised Orla Mining to a “hold” rating in a research note on Tuesday, February 4th. Finally, TD Cowen initiated coverage on shares of Orla Mining in a research note on Tuesday, February 4th. They set a “hold” rating on the stock. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $6.13.

Orla Mining Price Performance

The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of -1,116.88 and a beta of 0.71. The business has a 50-day simple moving average of $8.17 and a two-hundred day simple moving average of $6.01. The company has a quick ratio of 3.95, a current ratio of 4.54 and a debt-to-equity ratio of 0.12.

Hedge Funds Weigh In On Orla Mining

Several large investors have recently made changes to their positions in the business. Baldwin Wealth Partners LLC MA raised its position in shares of Orla Mining by 11.4% during the first quarter. Baldwin Wealth Partners LLC MA now owns 15,600 shares of the company’s stock worth $146,000 after purchasing an additional 1,600 shares during the period. Mackenzie Financial Corp increased its stake in Orla Mining by 17.2% in the 4th quarter. Mackenzie Financial Corp now owns 145,765 shares of the company’s stock worth $806,000 after purchasing an additional 21,353 shares in the last quarter. Two Sigma Advisers LP acquired a new stake in Orla Mining during the 4th quarter worth about $84,000. Two Sigma Investments LP raised its holdings in Orla Mining by 453.8% during the 4th quarter. Two Sigma Investments LP now owns 360,170 shares of the company’s stock worth $1,995,000 after buying an additional 295,133 shares during the period. Finally, Toronto Dominion Bank lifted its stake in Orla Mining by 167.4% during the fourth quarter. Toronto Dominion Bank now owns 45,906 shares of the company’s stock valued at $254,000 after buying an additional 28,741 shares in 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.