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

Key Points

• Orla Mining's stock experienced a trading volume increase of 47%, with 2,363,083 shares traded, and the stock price rose to $12.73 from a previous close of $11.49.
• The company holds a consensus rating of "Buy" from analysts, with a price target of $23.00, and has seen institutional investments increasing significantly.
• Orla Mining has a market capitalization of $4.37 billion and manages various mineral properties across Mexico, Panama, and Nevada.

Shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA - Get Free Report) saw strong trading volume on Tuesday . 2,363,083 shares were traded during trading, an increase of 47% from the previous session's volume of 1,607,136 shares.The stock last traded at $12.73 and had previously closed at $11.49.

Analyst Ratings Changes

Separately, CIBC reissued an "outperform" rating on shares of Orla Mining in a research report on Tuesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $23.00.

Orla Mining Stock Up 16.7%

The company's 50 day moving average price is $10.78 and its 200 day moving average price is $10.56. The company has a quick ratio of 0.66, a current ratio of 0.85 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of 269.41 and a beta of 0.33.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Euro Pacific Asset Management LLC purchased a new position in shares of Orla Mining during the third quarter worth $3,557,000. Osaic Holdings Inc. boosted its holdings in Orla Mining by 82.2% in the 2nd quarter. Osaic Holdings Inc. now owns 10,161 shares of the company's stock valued at $102,000 after purchasing an additional 4,584 shares during the last quarter. State of Wyoming purchased a new position in shares of Orla Mining during the 2nd quarter worth approximately $109,000. CANADA LIFE ASSURANCE Co lifted its holdings in Orla Mining by 14.3% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 79,264 shares of the company's stock worth $782,000 after buying an additional 9,933 shares in the last quarter. Finally, Man Group plc acquired a new stake in Orla Mining during the 2nd quarter worth approximately $2,509,000. 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.

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