Orla Mining (NYSEAMERICAN:ORLA) Sets New 1-Year High – Here’s Why

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

Analysts Set New Price Targets

Several analysts have issued reports on the stock. 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 shares of Orla Mining to a “moderate buy” rating in a research note on Thursday, October 31st.

Orla Mining Price Performance

The stock has a market capitalization of $1.85 billion, a P/E ratio of -575.42 and a beta of 0.69. The company has a current ratio of 4.54, a quick ratio of 3.95 and a debt-to-equity ratio of 0.12.

Institutional Investors Weigh In On Orla Mining

A number of large investors have recently added to or reduced their stakes in ORLA. American Century Companies Inc. grew its holdings in Orla Mining by 4.3% in the 2nd quarter. American Century Companies Inc. now owns 412,400 shares of the company’s stock worth $1,583,000 after acquiring an additional 17,100 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Orla Mining in the 2nd quarter worth $102,000. Toronto Dominion Bank grew its holdings in Orla Mining by 536.1% in the 2nd quarter. Toronto Dominion Bank now owns 27,563 shares of the company’s stock worth $106,000 after acquiring an additional 23,230 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Orla Mining by 2.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 177,136 shares of the company’s stock worth $679,000 after acquiring an additional 4,827 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Orla Mining by 50.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 450,000 shares of the company’s stock worth $1,812,000 after acquiring an additional 150,000 shares during 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.