Orla Mining (NYSEAMERICAN:ORLA) Sees Large Volume Increase – Still a Buy?

Orla Mining Ltd. (NYSEAMERICAN:ORLA) shares saw unusually-strong trading volume on Friday . Approximately 715,929 shares changed hands during trading, an increase of 43% from the previous session’s volume of 500,254 shares.The stock last traded at $8.65 and had previously closed at $8.29.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ORLA shares. Scotiabank raised shares of Orla Mining from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 27th. TD Cowen started coverage on shares of Orla Mining in a report on Tuesday, February 4th. They issued a “hold” rating for the company. Finally, TD Securities raised shares of Orla Mining to a “hold” rating in a report 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 assigned a strong buy rating to the stock. According to data from MarketBeat, Orla Mining presently has a consensus rating of “Moderate Buy” and an average target price of $6.13.

Orla Mining Stock Up 5.4 %

The stock’s 50 day moving average price is $6.37. The company has a current ratio of 4.54, a quick ratio of 3.95 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of -871.83 and a beta of 0.71.

Institutional Investors Weigh In On Orla Mining

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its position in Orla Mining by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 116,293 shares of the company’s stock valued at $650,000 after buying an additional 1,665 shares in the last quarter. Walleye Capital LLC grew its holdings in shares of Orla Mining by 10.2% during the fourth quarter. Walleye Capital LLC now owns 19,128 shares of the company’s stock worth $106,000 after purchasing an additional 1,764 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Orla Mining by 0.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 452,000 shares of the company’s stock valued at $2,500,000 after buying an additional 2,000 shares during the period. Gotham Asset Management LLC increased its stake in shares of Orla Mining by 11.8% in the fourth 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 during the period. Finally, D.A. Davidson & CO. raised its holdings in Orla Mining by 2.0% in the 4th quarter. D.A. Davidson & CO. now owns 392,364 shares of the company’s stock valued at $2,174,000 after buying an additional 7,667 shares during 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.