Orla Mining (NYSEAMERICAN:ORLA) Sees Unusually-High Trading Volume – Here’s What Happened

Orla Mining Ltd. (NYSEAMERICAN:ORLAGet Free Report) shares saw an uptick in trading volume on Friday . 715,929 shares changed hands during mid-day trading, an increase of 43% from the previous session’s volume of 500,254 shares.The stock last traded at $8.65 and had previously closed at $8.29.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ORLA. TD Cowen began coverage on shares of Orla Mining in a research report on Tuesday, February 4th. They issued a “hold” rating for the company. Scotiabank upgraded shares of Orla Mining from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 27th. Finally, TD Securities upgraded shares of Orla Mining to a “hold” rating in a research report on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $6.13.

Get Our Latest Stock Analysis on Orla Mining

Orla Mining Stock Up 5.1 %

The company has a debt-to-equity ratio of 0.12, a current ratio of 4.54 and a quick ratio of 3.95. The company has a market capitalization of $2.81 billion, a P/E ratio of -870.13 and a beta of 0.71. The business’s fifty day moving average price is $6.48.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ORLA. Kitching Partners LLC purchased a new position in shares of Orla Mining during the 3rd quarter worth approximately $48,000. Mariner LLC purchased a new position in shares of Orla Mining during the 4th quarter worth approximately $58,000. Scotia Capital Inc. purchased a new position in shares of Orla Mining during the 4th quarter worth approximately $67,000. Walleye Capital LLC purchased a new position in shares of Orla Mining during the 3rd quarter worth approximately $69,000. Finally, DF Dent & Co. Inc. purchased a new stake in Orla Mining in the 3rd quarter worth approximately $80,000. 43.04% of the stock is owned by hedge funds and other institutional investors.

Orla Mining Company Profile

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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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