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

Shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) reached a new 52-week high on Thursday . The stock traded as high as $6.10 and last traded at $6.01, with a volume of 600900 shares traded. The stock had previously closed at $5.95.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ORLA shares. Scotiabank upgraded shares of Orla Mining from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 27th. Desjardins upgraded Orla Mining to a “moderate buy” rating in a research note on Thursday, October 31st.

Orla Mining Stock Performance

The stock has a market capitalization of $1.93 billion, a PE ratio of -600.40 and a beta of 0.69. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.54 and a quick ratio of 3.95.

Orla Mining (NYSEAMERICAN:ORLA) last released its earnings results on Tuesday, November 12th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). The firm had revenue of $99.31 million during the quarter. Orla Mining had a net margin of 1.42% and a return on equity of 17.04%. Analysts predict that Orla Mining Ltd. will post 0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Orla Mining

Large investors have recently modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in Orla Mining in the third quarter valued at approximately $43,000. Kitching Partners LLC purchased a new stake in Orla Mining during the 3rd quarter worth $48,000. Walleye Capital LLC acquired a new position in Orla Mining in the 3rd quarter worth $69,000. DF Dent & Co. Inc. acquired a new stake in shares of Orla Mining during the third quarter valued at about $80,000. Finally, Sanctuary Advisors LLC acquired a new position in shares of Orla Mining in the third quarter worth about $90,000. 43.04% of the stock is currently owned by hedge funds and other institutional investors.

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.