Orla Mining (NYSEAMERICAN:ORLA) Sets New 1-Year High - Should You Buy?
Orla Mining's stock reached a new 52-week high at $13.95, with analysts maintaining an "outperform" rating. The stock has a Moderate Buy consensus with a target price of $27.00. Institutional investors have increased their holdings, and the company explores mineral properties including gold and silver. Despite the high rating, top analysts suggest other stocks may be better investments.
Orla Mining Ltd. (NYSEAMERICAN:ORLA - Get Free Report)'s share price reached a new 52-week high on Friday . The stock traded as high as $13.95 and last traded at $13.9450, with a volume of 737594 shares changing hands. The stock had previously closed at $13.48.
Analyst Ratings Changes
A number of analysts have issued reports on the company. Scotiabank reissued an "outperform" rating on shares of Orla Mining in a research report on Thursday, October 23rd. Royal Bank Of Canada reissued an "outperform" rating on shares of Orla Mining in a research note on Tuesday, October 21st. Finally, CIBC reaffirmed an "outperform" rating on shares of Orla Mining in a research report on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $27.00.
Read Our Latest Analysis on ORLA
Orla Mining Price Performance
The stock's 50 day moving average is $11.26 and its two-hundred day moving average is $10.83. The stock has a market capitalization of $4.77 billion, a PE ratio of 108.01 and a beta of 0.33. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.07 and a quick ratio of 0.88.
Institutional Investors Weigh In On Orla Mining
Several institutional investors have recently modified their holdings of ORLA. CIBC Private Wealth Group LLC purchased a new position in Orla Mining in the third quarter valued at $27,000. Salem Investment Counselors Inc. acquired a new position in shares of Orla Mining during the 2nd quarter worth about $30,000. IFP Advisors Inc boosted its position in shares of Orla Mining by 191.6% during the 2nd quarter. IFP Advisors Inc now owns 3,981 shares of the company's stock worth $40,000 after acquiring an additional 2,616 shares in the last quarter. TD Waterhouse Canada Inc. raised its position in shares of Orla Mining by 50.0% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 5,368 shares of the company's stock worth $53,000 after acquiring an additional 1,789 shares in the last quarter. Finally, Farther Finance Advisors LLC purchased a new stake in Orla Mining during the third quarter worth approximately $58,000. 43.04% of the stock is owned by hedge funds and other institutional investors.
About Orla Mining
(Get Free Report)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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