Orla Mining (NYSEAMERICAN:ORLA) Sees Large Volume Increase – What’s Next?

Orla Mining Ltd. (NYSEAMERICAN:ORLA) saw an uptick in trading volume on Monday . 438,931 shares traded hands during mid-day 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.

Analysts Set New Price Targets

A number of research analysts have recently commented on ORLA shares. TD Cowen assumed coverage on Orla Mining in a research note on Tuesday, February 4th. They set a “hold” rating on the stock. TD Securities raised Orla Mining to a “hold” rating in a research report on Tuesday, February 4th. Finally, Stifel Canada upgraded Orla Mining to a “strong-buy” rating in a research report on Wednesday, March 19th. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $6.13.

Orla Mining Stock Performance

The company has a 50 day simple moving average of $7.32. The company has a market cap of $3.00 billion, a PE ratio of -929.07 and a beta of 0.71. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.54 and a quick ratio of 3.95.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ORLA. Mariner LLC acquired a new position in Orla Mining during the 4th quarter valued at approximately $58,000. Scotia Capital Inc. acquired a new position in shares of Orla Mining in the fourth quarter valued at about $67,000. Two Sigma Advisers LP acquired a new stake in shares of Orla Mining during the fourth quarter worth about $84,000. Walleye Capital LLC acquired a new position in Orla Mining in the 3rd quarter worth approximately $69,000. Finally, Gotham Asset Management LLC increased its holdings in Orla Mining by 11.8% in the 4th quarter. Gotham Asset Management LLC now owns 19,393 shares of the company’s stock worth $107,000 after buying an additional 2,048 shares during the period. 43.04% of the stock is owned by institutional investors and hedge funds.

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.