Orla Mining (NYSEAMERICAN:ORLA) Shares Up 7.4% - Time to Buy?

Orla Mining Ltd. (NYSEAMERICAN:ORLA - Get Free Report)'s stock price was up 7.4% during mid-day trading on Monday . The stock traded as high as $12.28 and last traded at $12.33. Approximately 168,038 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 912,641 shares. The stock had previously closed at $11.48.

Wall Street Analysts Forecast Growth

Separately, CIBC reiterated 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 hold rating, one has given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Orla Mining has a consensus rating of "Buy" and an average price target of $14.50.

Orla Mining Trading Down 14.7%

The business has a 50 day simple moving average of $10.73 and a two-hundred day simple moving average of $8.64. The company has a current ratio of 0.81, a quick ratio of 0.62 and a debt-to-equity ratio of 0.92. The company has a market cap of $3.27 billion, a PE ratio of 36.91 and a beta of 0.35.

Hedge Funds Weigh In On Orla Mining

Large investors have recently added to or reduced their stakes in the business. FMR LLC raised its holdings in shares of Orla Mining by 17.3% in the 4th quarter. FMR LLC now owns 24,065,292 shares of the company's stock worth $133,264,000 after purchasing an additional 3,553,481 shares during the period. Franklin Resources Inc. grew its stake in shares of Orla Mining by 0.4% during the fourth 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Orla Mining by 119.8% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,843,000 shares of the company's stock worth $35,898,000 after purchasing an additional 2,094,800 shares during the last quarter. Amundi raised its holdings in Orla Mining by 49.9% in the first quarter. Amundi now owns 3,711,381 shares of the company's stock valued at $35,147,000 after acquiring an additional 1,235,692 shares in the last quarter. Finally, CWA Asset Management Group LLC lifted its position in shares of Orla Mining by 63.3% during the first quarter. CWA Asset Management Group LLC now owns 2,918,040 shares of the company's stock worth $27,284,000 after purchasing an additional 1,131,625 shares during the last quarter. 43.04% of the stock is currently owned by hedge funds and other institutional investors.

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.