Orla Mining (NYSEAMERICAN:ORLA) Trading Up 4.6% – Should You Buy?

Shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) rose 4.6% on Wednesday . The company traded as high as $5.74 and last traded at $5.72. Approximately 162,718 shares traded hands during trading, a decline of 63% from the average daily volume of 439,195 shares. The stock had previously closed at $5.47.

Analysts Set New Price Targets

ORLA has been the topic of a number of recent research reports. Scotiabank upgraded shares of Orla Mining from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 27th. Desjardins upgraded shares of Orla Mining to a “moderate buy” rating in a research note on Thursday, October 31st.

Orla Mining Price Performance

The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of -546.45 and a beta of 0.76. 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

A number of hedge funds have recently made changes to their positions in ORLA. Sanctuary Advisors LLC acquired a new position in Orla Mining during the third quarter valued at $90,000. Barclays PLC raised its stake in shares of Orla Mining by 86.5% in the 3rd quarter. Barclays PLC now owns 47,177 shares of the company’s stock valued at $189,000 after acquiring an additional 21,877 shares in the last quarter. Geode Capital Management LLC grew its stake in Orla Mining by 11.9% in the 3rd quarter. Geode Capital Management LLC now owns 114,628 shares of the company’s stock valued at $463,000 after buying an additional 12,159 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Orla Mining during the 3rd quarter valued at approximately $241,000. Finally, XTX Topco Ltd bought a new position in Orla Mining during the third quarter worth $325,000. Institutional investors and hedge funds 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.