Orla Mining (NYSEAMERICAN:ORLA) Stock Price Up 3.4% – Time to Buy?

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

Analyst Ratings Changes

Several research firms recently weighed in on ORLA. TD Cowen assumed coverage on Orla Mining in a research report on Tuesday, February 4th. They set a “hold” rating on the stock. Scotiabank upgraded shares of Orla Mining from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 27th. Finally, TD Securities upgraded shares of Orla Mining to a “hold” rating in a research note on Tuesday, February 4th. Two equities 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $6.13.

Orla Mining Trading Up 3.9 %

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’s 50-day moving average price is $6.37. The firm has a market cap of $2.63 billion, a PE ratio of -820.38 and a beta of 0.71.

Hedge Funds Weigh In On Orla Mining

A number of institutional investors have recently modified their holdings of the stock. Mackenzie Financial Corp raised its stake in Orla Mining by 17.2% in the fourth quarter. Mackenzie Financial Corp now owns 145,765 shares of the company’s stock worth $806,000 after buying an additional 21,353 shares in the last quarter. Two Sigma Advisers LP purchased a new position in Orla Mining in the fourth quarter valued at about $84,000. Two Sigma Investments LP raised its holdings in Orla Mining by 453.8% in the fourth quarter. Two Sigma Investments LP now owns 360,170 shares of the company’s stock worth $1,995,000 after purchasing an additional 295,133 shares in the last quarter. Toronto Dominion Bank raised its stake in shares of Orla Mining by 167.4% during the 4th quarter. Toronto Dominion Bank now owns 45,906 shares of the company’s stock worth $254,000 after acquiring an additional 28,741 shares in the last quarter. Finally, Gotham Asset Management LLC increased its position in Orla Mining by 11.8% during the 4th quarter. Gotham Asset Management LLC now owns 19,393 shares of the company’s stock valued at $107,000 after buying an additional 2,048 shares in the last quarter. 43.04% of the stock is owned by hedge funds and other institutional investors.

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.