Orla Mining (NYSEAMERICAN:ORLA) Trading Up 3.4% – What’s Next?

Orla Mining Ltd. (NYSEAMERICAN:ORLA) shares were up 3.4% during trading on Thursday . The company traded as high as $8.18 and last traded at $8.12. Approximately 201,185 shares were traded during trading, a decline of 59% from the average daily volume of 494,897 shares. The stock had previously closed at $7.85.

Analyst Ratings Changes

ORLA has been the subject of a number of analyst reports. TD Cowen initiated coverage on Orla Mining in a report on Tuesday, February 4th. They issued a “hold” rating for the company. Scotiabank raised Orla Mining from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 27th. Finally, TD Securities raised Orla Mining to a “hold” rating in a report on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $6.13.

Orla Mining Price Performance

The business’s 50-day moving average price is $6.48. 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 $2.81 billion, a PE ratio of -870.13 and a beta of 0.71.

Institutional Investors Weigh In On Orla Mining

Several institutional investors and hedge funds have recently modified their holdings of ORLA. Dynamic Technology Lab Private Ltd purchased a new position in Orla Mining in the third quarter valued at about $242,000. The Manufacturers Life Insurance Company boosted its holdings in Orla Mining by 67.2% in the third quarter. The Manufacturers Life Insurance Company now owns 296,097 shares of the company’s stock valued at $1,192,000 after purchasing an additional 118,961 shares during the last quarter. D.A. Davidson & CO. purchased a new position in Orla Mining in the third quarter valued at about $1,539,000. Walleye Capital LLC purchased a new position in Orla Mining in the third quarter valued at about $69,000. Finally, PDT Partners LLC boosted its holdings in Orla Mining by 53.6% in the third quarter. PDT Partners LLC now owns 70,379 shares of the company’s stock valued at $282,000 after purchasing an additional 24,545 shares during the last quarter. Hedge funds and other institutional investors 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.