Orla Mining (NYSEAMERICAN:ORLA) Reaches New 52-Week High - Here's Why

Shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA - Get Free Report) hit a new 52-week high on Thursday . The stock traded as high as $12.40 and last traded at $12.29, with a volume of 483624 shares trading hands. The stock had previously closed at $11.44.

Analyst Upgrades and Downgrades

Separately, Stifel Canada raised shares of Orla Mining to a "strong-buy" rating in a research note on Wednesday, March 19th. Two research analysts have rated the stock with a hold rating and two have issued a strong buy rating to the company. According to MarketBeat, Orla Mining has a consensus rating of "Buy" and a consensus price target of $6.00.

Orla Mining Price Performance

The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.95 and a current ratio of 4.54. The firm has a market cap of $3.58 billion, a P/E ratio of -1,109.89 and a beta of 0.71. The business has a 50-day simple moving average of $10.30 and a 200 day simple moving average of $7.11.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. FMR LLC raised its stake in Orla Mining by 17.3% in the fourth quarter. FMR LLC now owns 24,065,292 shares of the company's stock worth $133,264,000 after buying an additional 3,553,481 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Orla Mining by 0.4% in the 4th quarter. Franklin Resources Inc. now owns 7,578,812 shares of the company's stock worth $41,914,000 after acquiring an additional 31,700 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Orla Mining by 119.8% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,843,000 shares of the company's stock worth $35,898,000 after acquiring an additional 2,094,800 shares in the last quarter. Amundi raised its position in shares of Orla Mining by 49.9% in the 1st quarter. Amundi now owns 3,711,381 shares of the company's stock worth $35,147,000 after acquiring an additional 1,235,692 shares in the last quarter. Finally, CWA Asset Management Group LLC raised its position in shares of Orla Mining by 63.3% in the 1st quarter. CWA Asset Management Group LLC now owns 2,918,040 shares of the company's stock worth $27,284,000 after acquiring an additional 1,131,625 shares in the last quarter. 43.04% of the stock is currently owned by 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.