Orla Mining (NYSEAMERICAN:ORLA) Reaches New 1-Year High – Time to Buy?

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s stock price reached a new 52-week high on Thursday . The company traded as high as $14.59 and last traded at $14.4810, with a volume of 829191 shares changing hands. The stock had previously closed at $13.64.

Analysts Set New Price Targets

ORLA has been the subject of several analyst reports. Scotiabank restated an “outperform” rating on shares of Orla Mining in a report on Thursday, October 23rd. CIBC reissued an “outperform” rating on shares of Orla Mining in a research note on Monday, October 20th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Orla Mining in a report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $27.00.

Orla Mining Trading Up 4.4%

The business has a 50 day moving average of $11.96 and a two-hundred day moving average of $11.17. The firm has a market capitalization of $4.84 billion, a price-to-earnings ratio of 110.55 and a beta of 0.30. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.88 and a current ratio of 1.07.

Orla Mining Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 10th. Stockholders of record on Monday, January 12th will be given a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, January 12th.

Institutional Trading of Orla Mining

A number of hedge funds and other institutional investors have recently bought and sold shares of ORLA. Millennium Management LLC lifted its stake in shares of Orla Mining by 992.0% in the third quarter. Millennium Management LLC now owns 9,066,678 shares of the company’s stock valued at $97,814,000 after buying an additional 8,236,385 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Orla Mining by 1,628.2% during the third quarter. Vanguard Group Inc. now owns 3,254,056 shares of the company’s stock worth $35,095,000 after acquiring an additional 3,065,761 shares in the last quarter. Jupiter Asset Management Ltd. raised its holdings in shares of Orla Mining by 25,866.2% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 2,791,369 shares of the company’s stock worth $30,112,000 after acquiring an additional 2,780,619 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Orla Mining by 41.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,251,539 shares of the company’s stock valued at $78,194,000 after acquiring an additional 2,111,765 shares in the last quarter. Finally, Mudita Advisors LLP acquired a new position in Orla Mining during the 3rd quarter valued at about $15,119,000. Institutional investors own 43.04% of the company’s stock.

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.