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

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.

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

Wall Street Analysts Forecast Growth

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

Orla Mining Price Performance

The company has a market capitalization of $4.16 billion, a price-to-earnings ratio of 255.65 and a beta of 0.35. The company's 50 day simple moving average is $10.73 and its 200-day simple moving average is $10.11. The company has a current ratio of 0.85, a quick ratio of 0.66 and a debt-to-equity ratio of 0.76.

Institutional Investors Weigh In On Orla Mining

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

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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