Orla Mining (NYSEAMERICAN:ORLA) Reaches New 1-Year High – What’s Next?

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $6.06 and last traded at $5.62, with a volume of 151 shares traded. The stock had previously closed at $5.62.

Analysts Set New Price Targets

ORLA has been the subject of several research analyst reports. Scotiabank raised shares of Orla Mining from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 27th. Desjardins upgraded shares of Orla Mining to a “moderate buy” rating in a research note on Thursday, October 31st.

Orla Mining Price Performance

The company has a current ratio of 4.54, a quick ratio of 3.95 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $1.84 billion, a P/E ratio of -572.93 and a beta of 0.69.

Hedge Funds Weigh In On Orla Mining

Several hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its stake in Orla Mining by 2.8% during the second quarter. The Manufacturers Life Insurance Company now owns 177,136 shares of the company’s stock valued at $679,000 after purchasing an additional 4,827 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Orla Mining in the third quarter worth about $43,000. Kitching Partners LLC bought a new position in shares of Orla Mining in the third quarter worth about $48,000. Geode Capital Management LLC grew its holdings in shares of Orla Mining by 11.9% in the third quarter. Geode Capital Management LLC now owns 114,628 shares of the company’s stock worth $463,000 after purchasing an additional 12,159 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of Orla Mining by 7.8% in the third quarter. Jane Street Group LLC now owns 212,002 shares of the company’s stock worth $853,000 after purchasing an additional 15,404 shares during the last quarter. Hedge funds and other 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.