Orla Mining (NYSEAMERICAN:ORLA) Stock Price Up 8.6% – What’s Next?

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s stock price was up 8.6% during mid-day trading on Monday . The stock traded as high as $4.48 and last traded at $4.28. Approximately 167,295 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 422,580 shares. The stock had previously closed at $3.94.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ORLA shares. Desjardins upgraded Orla Mining to a “moderate buy” rating in a research note on Thursday, October 31st. Scotiabank upped their target price on shares of Orla Mining from $5.75 to $6.00 and gave the company a “sector perform” rating in a report on Friday, October 11th.

Orla Mining Price Performance

The company has a quick ratio of 5.02, a current ratio of 4.54 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $1.37 billion, a P/E ratio of -431.57 and a beta of 0.79.

Hedge Funds Weigh In On Orla Mining

Hedge funds have recently modified their holdings of the company. CWA Asset Management Group LLC purchased a new stake in Orla Mining during the 3rd quarter valued at approximately $5,927,000. Goehring & Rozencwajg Associates LLC grew its stake in Orla Mining by 16.3% during the second quarter. Goehring & Rozencwajg Associates LLC now owns 1,295,214 shares of the company’s stock valued at $4,969,000 after acquiring an additional 181,900 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Orla Mining by 50.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 450,000 shares of the company’s stock valued at $1,812,000 after acquiring an additional 150,000 shares in the last quarter. National Bank of Canada FI increased its holdings in Orla Mining by 21.4% in the 3rd quarter. National Bank of Canada FI now owns 421,108 shares of the company’s stock valued at $1,687,000 after acquiring an additional 74,293 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in Orla Mining by 4.3% in the 2nd quarter. American Century Companies Inc. now owns 412,400 shares of the company’s stock worth $1,583,000 after purchasing an additional 17,100 shares in the last quarter. 43.04% of the stock is currently owned by 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.