Orla Mining (NYSEAMERICAN:ORLA) Hits New 52-Week High – Time to Buy?

Orla Mining Ltd. (NYSEAMERICAN:ORLA) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $5.82 and last traded at $5.82, with a volume of 407441 shares changing hands. The stock had previously closed at $5.54.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ORLA shares. Scotiabank upgraded Orla Mining from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 27th. Desjardins raised Orla Mining to a “moderate buy” rating in a research report on Thursday, October 31st.

Orla Mining Stock 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 stock has a market capitalization of $1.92 billion, a P/E ratio of -597.40 and a beta of 0.75.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC acquired a new position in Orla Mining during the third quarter valued at approximately $43,000. Kitching Partners LLC bought a new position in shares of Orla Mining in the 3rd quarter valued at $48,000. Walleye Capital LLC acquired a new position in shares of Orla Mining during the 3rd quarter worth $69,000. DF Dent & Co. Inc. bought a new stake in shares of Orla Mining during the 3rd quarter worth $80,000. Finally, Sanctuary Advisors LLC acquired a new stake in Orla Mining in the third quarter valued at about $90,000. Institutional investors and hedge funds own 43.04% of the company’s stock.

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.