Investors Buy High Volume of Orla Mining Put Options (NYSEAMERICAN:ORLA)

Key Points

• Orla Mining experienced an unusually high volume of options trading, with investors purchasing 2,086 put options, marking a 320% increase compared to the average.
• Analysts have set an average price target of $14.50 for Orla Mining, with investment ratings including two Strong Buy, one Buy, and two Hold ratings.
• During trading, Orla Mining's stock price dropped 6.8% to $10.32, with a notable market capitalization of $3.36 billion and substantial recent institutional investment.

Orla Mining Ltd. (NYSEAMERICAN:ORLA - Get Free Report) was the target of unusually large options trading activity on Friday. Traders purchased 2,086 put options on the company. This is an increase of approximately 320% compared to the typical volume of 497 put options.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ORLA. Salem Investment Counselors Inc. purchased a new position in shares of Orla Mining during the 2nd quarter valued at approximately $30,000. IFP Advisors Inc raised its position in Orla Mining by 191.6% during the second quarter. IFP Advisors Inc now owns 3,981 shares of the company's stock worth $40,000 after acquiring an additional 2,616 shares during the period. TD Waterhouse Canada Inc. increased its stake in shares of Orla Mining by 50.0% during the second quarter. TD Waterhouse Canada Inc. now owns 5,368 shares of the company's stock worth $53,000 after purchasing an additional 1,789 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in shares of Orla Mining during the fourth quarter worth about $84,000. Finally, Banque Cantonale Vaudoise purchased a new stake in shares of Orla Mining during the first quarter worth about $86,000. Hedge funds and other institutional investors own 43.04% of the company's stock.

Orla Mining Price Performance

Shares of Orla Mining stock traded up $0.31 on Tuesday, hitting $11.17. The company's stock had a trading volume of 1,344,937 shares, compared to its average volume of 1,552,183. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.66 and a current ratio of 0.85. Orla Mining has a 1 year low of $3.81 and a 1 year high of $12.91. The firm has a fifty day moving average price of $10.75 and a 200-day moving average price of $10.29. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 223.74 and a beta of 0.35.

Wall Street Analysts Forecast Growth

Separately, CIBC reissued an "outperform" rating on shares of Orla Mining in a research report on Tuesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $14.50.

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.