Orla Mining (NYSEAMERICAN:ORLA) Stock Price Up 6.6% – Here’s What Happened

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s stock price traded up 6.6% on Friday . The company traded as high as $10.97 and last traded at $10.53. 360,229 shares were traded during mid-day trading, a decline of 39% from the average session volume of 595,301 shares. The stock had previously closed at $9.88.

Wall Street Analysts Forecast Growth

ORLA has been the subject of a number of research analyst reports. TD Securities raised shares of Orla Mining to a “hold” rating in a research note on Tuesday, February 4th. TD Cowen began coverage on shares of Orla Mining in a research report on Tuesday, February 4th. They issued a “hold” rating for the company. Finally, Stifel Canada upgraded Orla Mining to a “strong-buy” rating in a research report on Wednesday, March 19th. Two equities 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 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 stock has a fifty day simple moving average of $7.97 and a 200-day simple moving average of $5.94. The stock has a market cap of $3.42 billion, a P/E ratio of -1,060.94 and a beta of 0.71. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.95 and a current ratio of 4.54.

Hedge Funds Weigh In On Orla Mining

A number of hedge funds and other institutional investors have recently bought and sold shares of ORLA. Mackenzie Financial Corp increased its holdings in shares of Orla Mining by 17.2% during the fourth quarter. Mackenzie Financial Corp now owns 145,765 shares of the company’s stock worth $806,000 after purchasing an additional 21,353 shares during the period. Two Sigma Advisers LP bought a new position in Orla Mining in the 4th quarter valued at approximately $84,000. Two Sigma Investments LP lifted its stake in shares of Orla Mining by 453.8% in the 4th 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 last quarter. Toronto Dominion Bank boosted its stake in shares of Orla Mining by 167.4% during the fourth quarter. Toronto Dominion Bank now owns 45,906 shares of the company’s stock valued at $254,000 after purchasing an additional 28,741 shares in the last quarter. Finally, Gotham Asset Management LLC boosted 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 worth $107,000 after buying an additional 2,048 shares during the period. Institutional investors 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.