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

Orla Mining Ltd. (NYSEAMERICAN:ORLA) shares saw an uptick in trading volume on Monday . 438,931 shares were traded during trading, a decline of 20% from the previous session’s volume of 551,491 shares.The stock last traded at $9.16 and had previously closed at $9.16.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Stifel Canada upgraded Orla Mining to a “strong-buy” rating in a report on Wednesday, March 19th. TD Cowen assumed coverage on shares of Orla Mining in a report on Tuesday, February 4th. They set a “hold” rating on the stock. Finally, TD Securities raised shares of 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 issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $6.13.

Orla Mining Stock Performance

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 business has a 50 day simple moving average of $7.17. The company has a market cap of $2.99 billion, a PE ratio of -924.58 and a beta of 0.71.

Institutional Investors Weigh In On Orla Mining

A number of hedge funds have recently made changes to their positions in the business. Mackenzie Financial Corp increased its stake in Orla Mining by 17.2% during the 4th quarter. Mackenzie Financial Corp now owns 145,765 shares of the company’s stock valued at $806,000 after buying an additional 21,353 shares during the period. Two Sigma Advisers LP bought a new position in shares of Orla Mining in the fourth quarter valued at approximately $84,000. Two Sigma Investments LP increased its stake in shares of Orla Mining by 453.8% during the fourth quarter. Two Sigma Investments LP now owns 360,170 shares of the company’s stock valued at $1,995,000 after acquiring an additional 295,133 shares during the period. Toronto Dominion Bank raised its holdings in Orla Mining by 167.4% during the fourth quarter. Toronto Dominion Bank now owns 45,906 shares of the company’s stock worth $254,000 after purchasing an additional 28,741 shares in the last quarter. Finally, Gotham Asset Management LLC lifted its position in Orla Mining by 11.8% in the fourth quarter. Gotham Asset Management LLC now owns 19,393 shares of the company’s stock worth $107,000 after purchasing an additional 2,048 shares during the period. Institutional investors 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.