Orla Mining Ltd. (NYSEAMERICAN:ORLA – Get Free Report)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $5.15 and last traded at $5.15, with a volume of 450677 shares. The stock had previously closed at $5.03.
Wall Street Analyst Weigh In
Separately, Scotiabank raised their price target on Orla Mining from $5.75 to $6.00 and gave the company a “sector perform” rating in a research note on Friday, October 11th.
Read Our Latest Stock Analysis on Orla Mining
Orla Mining Stock Performance
Orla Mining (NYSEAMERICAN:ORLA – Get Free Report) last issued its earnings results on Monday, August 12th. The company reported $0.07 earnings per share for the quarter, meeting the consensus estimate of $0.07. Orla Mining had a negative net margin of 4.12% and a positive return on equity of 14.36%. The business had revenue of $84.57 million for the quarter. Equities analysts predict that Orla Mining Ltd. will post 0.23 earnings per share for the current fiscal year.
Institutional Trading of Orla Mining
Hedge funds and other institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company increased its position in shares of Orla Mining by 2.8% in the second quarter. The Manufacturers Life Insurance Company now owns 177,136 shares of the company’s stock valued at $679,000 after buying an additional 4,827 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Orla Mining in the third quarter valued at about $43,000. American Century Companies Inc. grew its position in shares of Orla Mining by 4.3% in the second quarter. American Century Companies Inc. now owns 412,400 shares of the company’s stock valued at $1,583,000 after purchasing an additional 17,100 shares during the last quarter. CIBC Asset Management Inc increased its stake 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. Finally, Toronto Dominion Bank raised its position in shares of Orla Mining by 536.1% during the 2nd 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 last quarter. Institutional investors and hedge funds own 43.04% of the company’s stock.
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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