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

Orla Mining Ltd. (NYSEAMERICAN:ORLA) 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.

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

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.