Orla Mining (NYSEAMERICAN:ORLA) Sets New 1-Year High - Should You Buy?

Orla Mining Ltd. (NYSEAMERICAN:ORLA - Get Free Report) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $11.95 and last traded at $11.50, with a volume of 1693251 shares trading hands. The stock had previously closed at $11.27.

Analyst Upgrades and Downgrades

ORLA has been the subject of several recent research reports. TD Cowen started coverage on shares of Orla Mining in a research report on Tuesday, February 4th. They set a "hold" rating for the company. Stifel Canada raised Orla Mining to a "strong-buy" rating in a report on Wednesday, March 19th. Finally, TD Securities raised Orla Mining to a "hold" rating in a research note on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $6.13.

Orla Mining Trading Down 1.1 %

The company has a market cap of $3.46 billion, a P/E ratio of -1,070.93 and a beta of 0.71. The company has a quick ratio of 3.95, a current ratio of 4.54 and a debt-to-equity ratio of 0.12. The firm's 50-day moving average price is $8.87 and its 200-day moving average price is $6.30.

Hedge Funds Weigh In On Orla Mining

A number of large investors have recently modified their holdings of the company. Mariner LLC bought a new position in Orla Mining in the 4th quarter worth about $58,000. Scotia Capital Inc. bought a new position in shares of Orla Mining in the fourth quarter worth approximately $67,000. Two Sigma Advisers LP purchased a new stake in Orla Mining in the fourth quarter valued at approximately $84,000. Baldwin Wealth Partners LLC MA lifted its position in Orla Mining by 11.4% during the first quarter. Baldwin Wealth Partners LLC MA now owns 15,600 shares of the company's stock valued at $146,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Ritholtz Wealth Management purchased a new position in Orla Mining in the 1st quarter worth approximately $164,000. 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.