Orla Mining (NYSEAMERICAN:ORLA) Sees Strong Trading Volume - Still a Buy?

Orla Mining Ltd. (NYSEAMERICAN:ORLA - Get Free Report) shares saw unusually-strong trading volume on Monday . Approximately 1,074,865 shares changed hands during mid-day trading, an increase of 45% from the previous session's volume of 740,462 shares.The stock last traded at $11.63 and had previously closed at $10.93.

Wall Street Analyst Weigh In

Separately, Stifel Canada raised Orla Mining to a "strong-buy" rating in a report on Wednesday, March 19th. Two research analysts have rated the stock with a hold rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $6.00.

Orla Mining Stock Up 5.0%

The stock has a market cap of $3.70 billion, a P/E ratio of -1,149.35 and a beta of 0.71. The stock's fifty day simple moving average is $10.51 and its 200-day simple moving average is $7.35. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.54 and a quick ratio of 3.95.

Institutional Trading of Orla Mining

Several hedge funds and other institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. grew its holdings in shares of Orla Mining by 4.6% during the 1st quarter. Russell Investments Group Ltd. now owns 24,735 shares of the company's stock valued at $231,000 after acquiring an additional 1,093 shares in the last quarter. Baldwin Wealth Partners LLC MA lifted its holdings in shares of Orla Mining by 11.4% during the 1st quarter. Baldwin Wealth Partners LLC MA now owns 15,600 shares of the company's stock valued at $146,000 after buying an additional 1,600 shares during the last quarter. Geode Capital Management LLC lifted its stake 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 acquiring an additional 1,665 shares during the last quarter. Walleye Capital LLC grew its position in Orla Mining by 10.2% in the fourth quarter. Walleye Capital LLC now owns 19,128 shares of the company's stock worth $106,000 after acquiring an additional 1,764 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position 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 purchasing an additional 2,000 shares during the period. Institutional investors and hedge funds 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.

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