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

Key Points

• Orla Mining's stock recently reached a new 52-week high, trading at $12.91, up from a previous close of $11.56, with a significant trading volume of over 5 million shares.
• Analysts have given Orla Mining an average rating of "Buy," with a consensus target price of $14.50, following multiple upgrades from financial institutions.
• Institutional investors hold 43.04% of Orla Mining's stock, showing increased interest with notable investments, including an 453.8% increase by Two Sigma Investments in the past quarter.

Shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as $12.91 and last traded at $12.78, with a volume of 5064533 shares trading hands. The stock had previously closed at $11.56.

Analyst Ratings Changes

Separately, CIBC reissued an "outperform" rating on shares of Orla Mining in a research report on Tuesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Orla Mining has a consensus rating of "Buy" and an average price target of $14.50.

Orla Mining Stock Performance

The company has a market cap of $3.33 billion, a PE ratio of 204.44 and a beta of 0.35. The company has a current ratio of 0.85, a quick ratio of 0.66 and a debt-to-equity ratio of 0.76. The business's 50 day moving average is $10.76 and its two-hundred day moving average is $10.22.

Hedge Funds Weigh In On Orla Mining

Hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC lifted its stake in shares of Orla Mining by 11.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 504,000 shares of the company's stock worth $4,708,000 after buying an additional 52,000 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in Orla Mining during the 1st quarter valued at about $238,000. Two Sigma Investments LP grew its stake in Orla Mining by 453.8% during the 4th quarter. Two Sigma Investments LP now owns 360,170 shares of the company's stock valued at $1,995,000 after acquiring an additional 295,133 shares in the last quarter. American Century Companies Inc. boosted its holdings in Orla Mining by 1.9% in the 1st quarter. American Century Companies Inc. now owns 440,059 shares of the company's stock valued at $4,110,000 after purchasing an additional 8,399 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Orla Mining in the 4th quarter valued at approximately $181,000. 43.04% of the stock is currently owned by 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.