Orla Mining (NYSEAMERICAN:ORLA) Sees Unusually-High Trading Volume - Here's Why

Orla Mining Ltd. (NYSEAMERICAN:ORLA - Get Free Report) saw strong 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 analysts have commented on ORLA shares. TD Securities upgraded Orla Mining to a "hold" rating in a research report on Tuesday, February 4th. Stifel Canada upgraded shares of Orla Mining to a "strong-buy" rating in a research report on Wednesday, March 19th. Finally, TD Cowen assumed coverage on shares of Orla Mining in a report on Tuesday, February 4th. They issued a "hold" rating for the company. Two equities 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. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $6.13.

Orla Mining Price Performance

The company has a market cap of $3.05 billion, a P/E ratio of -946.05 and a beta of 0.71. The business has a 50-day moving average price of $7.40. The company has a current ratio of 4.54, a quick ratio of 3.95 and a debt-to-equity ratio of 0.12.

Hedge Funds Weigh In On Orla Mining

A number of large investors have recently bought and sold shares of the business. FMR LLC increased its stake in shares of Orla Mining by 17.3% during the fourth quarter. FMR LLC now owns 24,065,292 shares of the company's stock valued at $133,264,000 after buying an additional 3,553,481 shares during the period. Franklin Resources Inc. increased its holdings in shares of Orla Mining by 0.4% in the 4th quarter. Franklin Resources Inc. now owns 7,578,812 shares of the company's stock valued at $41,914,000 after acquiring an additional 31,700 shares during the period. Amundi grew its stake in Orla Mining by 6.7% in the fourth quarter. Amundi now owns 2,475,689 shares of the company's stock valued at $14,483,000 after purchasing an additional 155,200 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new stake in Orla Mining during the fourth quarter valued at approximately $11,944,000. Finally, CWA Asset Management Group LLC boosted its position in shares of Orla Mining by 20.6% in the 4th quarter. CWA Asset Management Group LLC now owns 1,786,415 shares of the company's stock worth $9,897,000 after purchasing an additional 304,748 shares in the last quarter. Hedge funds and other institutional investors own 43.04% of the company's stock.

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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.