Orla Mining (NYSEAMERICAN:ORLA) Shares Up 5.1% - What's Next?

Orla Mining Ltd. (NYSEAMERICAN:ORLA - Get Free Report) traded up 5.1% during trading on Friday . The stock traded as high as $11.17 and last traded at $11.25. 448,883 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 891,007 shares. The stock had previously closed at $10.70.

Analysts Set New Price Targets

Separately, Stifel Canada raised 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 and two have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $6.00.

Orla Mining Stock Performance

The company has a market cap of $3.67 billion, a P/E ratio of -1,128.00 and a beta of 0.35. The business's 50 day simple moving average is $10.48 and its 200 day simple moving average is $8.19. The company has a current ratio of 0.81, a quick ratio of 0.62 and a debt-to-equity ratio of 0.92.

Institutional Investors Weigh In On Orla Mining

Institutional investors have recently added to or reduced their stakes in the stock. FMR LLC grew its holdings in shares of Orla Mining by 17.3% in the fourth quarter. FMR LLC now owns 24,065,292 shares of the company's stock valued at $133,264,000 after purchasing an additional 3,553,481 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Orla Mining by 0.4% in the fourth quarter. Franklin Resources Inc. now owns 7,578,812 shares of the company's stock valued at $41,914,000 after purchasing an additional 31,700 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Orla Mining by 119.8% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,843,000 shares of the company's stock valued at $35,898,000 after purchasing an additional 2,094,800 shares in the last quarter. Amundi grew its holdings in shares of 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 purchasing an additional 1,235,692 shares in the last quarter. Finally, CWA Asset Management Group LLC grew its holdings in shares of Orla Mining by 63.3% in the first quarter. CWA Asset Management Group LLC now owns 2,918,040 shares of the company's stock valued at $27,284,000 after purchasing an additional 1,131,625 shares in the last quarter. 43.04% of the stock is 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.