Orla Mining (NYSEAMERICAN:ORLA) Sets New 52-Week High After Analyst Upgrade

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s share price reached a new 52-week high during trading on Friday after Scotiabank raised their price target on the stock from $5.75 to $6.00. Scotiabank currently has a sector perform rating on the stock. Orla Mining traded as high as $4.64 and last traded at $4.61, with a volume of 72819 shares trading hands. The stock had previously closed at $4.50.

Institutional Investors Weigh In On Orla Mining

Institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company grew its position in Orla Mining by 2.8% during the second quarter. The Manufacturers Life Insurance Company now owns 177,136 shares of the company’s stock worth $679,000 after buying an additional 4,827 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Orla Mining by 4.3% during the 2nd quarter. American Century Companies Inc. now owns 412,400 shares of the company’s stock worth $1,583,000 after purchasing an additional 17,100 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Orla Mining by 7.9% during the 2nd quarter. CIBC Asset Management Inc now owns 293,268 shares of the company’s stock worth $1,125,000 after purchasing an additional 21,576 shares in the last quarter. Toronto Dominion Bank increased its position in shares of Orla Mining by 536.1% in the second quarter. Toronto Dominion Bank now owns 27,563 shares of the company’s stock worth $106,000 after purchasing an additional 23,230 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in Orla Mining in the second quarter valued at about $102,000. Institutional investors own 43.04% of the company’s stock.

Orla Mining Stock Performance

The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of -90.00 and a beta of 0.83. The company has a current ratio of 5.89, a quick ratio of 5.02 and a debt-to-equity ratio of 0.18.

Orla Mining (NYSEAMERICAN:ORLA) last issued its earnings results on Monday, August 12th. The company reported $0.07 EPS for the quarter, meeting the consensus estimate of $0.07. The company had revenue of $84.57 million during the quarter. Orla Mining had a negative net margin of 4.12% and a positive return on equity of 14.36%. On average, analysts expect that Orla Mining Ltd. will post 0.23 EPS for the current fiscal year.

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.