Orla Mining (NYSEAMERICAN:ORLA) Sees Strong Trading Volume – Time to Buy?

Orla Mining Ltd. (NYSEAMERICAN:ORLA) shares saw unusually-high trading volume on Monday . Approximately 438,931 shares traded hands during 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.

Analyst Upgrades and Downgrades

ORLA has been the topic of a number of analyst reports. TD Cowen assumed coverage on shares of Orla Mining in a research note on Tuesday, February 4th. They set a “hold” rating on the stock. TD Securities upgraded shares of Orla Mining to a “hold” rating in a research report on Tuesday, February 4th. Finally, Stifel Canada upgraded shares of Orla Mining to a “strong-buy” rating in a research report on Wednesday, March 19th. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $6.13.

Orla Mining Stock Performance

The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of -929.07 and a beta of 0.71. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.54 and a quick ratio of 3.95. The company has a 50 day moving average of $7.32.

Institutional Trading of Orla Mining

Institutional investors and hedge funds have recently modified their holdings of the stock. Mariner LLC purchased a new position in Orla Mining in the 4th quarter valued at $58,000. Scotia Capital Inc. acquired a new stake in shares of Orla Mining in the fourth quarter valued at about $67,000. Walleye Capital LLC acquired a new stake in shares of Orla Mining in the third quarter valued at about $69,000. DF Dent & Co. Inc. purchased a new position in shares of Orla Mining in the third quarter worth about $80,000. Finally, Two Sigma Advisers LP acquired a new position in Orla Mining during the fourth quarter worth about $84,000. Hedge funds and other institutional investors own 43.04% of the company’s stock.

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.