Orla Mining (NYSEAMERICAN:ORLA) Hits New 1-Year High - Still a Buy?

Key Points

• Orla Mining Ltd. has reached a new **52-week high** trading at **$13.62** and has a market cap of **$4.28 billion**.
• Analysts have given the stock an average rating of **"Buy"** with a target price of **$23.00**; notable recent ratings include an **"outperform"** rating from CIBC.
• Approximately **43.04%** of Orla Mining's stock is owned by hedge funds and institutional investors, reflecting significant interest in the company.

Orla Mining Ltd. (NYSEAMERICAN:ORLA - Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $13.62 and last traded at $13.13, with a volume of 11800992 shares. The stock had previously closed at $11.49.

Analyst Ratings Changes

Separately, CIBC restated an "outperform" rating on shares of Orla Mining in a research note on Tuesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $23.00.

Orla Mining Stock Up 14.3%

The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.66 and a current ratio of 0.85. The firm's 50-day moving average price is $10.84 and its two-hundred day moving average price is $10.57. The firm has a market cap of $4.28 billion, a PE ratio of 262.65 and a beta of 0.33.

Institutional Trading of Orla Mining

Several institutional investors and hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC purchased a new position in Orla Mining during the 3rd quarter worth approximately $58,000. Euro Pacific Asset Management LLC acquired a new stake in shares of Orla Mining in the third quarter valued at approximately $3,557,000. Osaic Holdings Inc. grew its position in shares of Orla Mining by 82.2% during the second quarter. Osaic Holdings Inc. now owns 10,161 shares of the company's stock worth $102,000 after acquiring an additional 4,584 shares during the last quarter. State of Wyoming purchased a new position in shares of Orla Mining during the second quarter worth approximately $109,000. Finally, CANADA LIFE ASSURANCE Co increased its holdings in shares of Orla Mining by 14.3% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 79,264 shares of the company's stock valued at $782,000 after acquiring an additional 9,933 shares during the period. 43.04% of the stock is owned by hedge funds and other institutional investors.

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.

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