Orla Mining Target of Unusually High Options Trading (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 recipient of some unusual options trading on Friday. Investors acquired 2,086 put options on the stock. This is an increase of approximately 320% compared to the typical daily volume of 497 put options.

Hedge Funds Weigh In On Orla Mining

Institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets bought a new position in Orla Mining in the 4th quarter valued at $181,000. Deutsche Bank AG boosted its position in Orla Mining by 201.5% in the 4th quarter. Deutsche Bank AG now owns 25,446 shares of the company's stock valued at $141,000 after buying an additional 17,005 shares during the last quarter. Gotham Asset Management LLC boosted its position in Orla Mining by 11.8% in the 4th quarter. Gotham Asset Management LLC now owns 19,393 shares of the company's stock valued at $107,000 after buying an additional 2,048 shares during the last quarter. Toronto Dominion Bank boosted its position in Orla Mining by 167.4% in the 4th quarter. Toronto Dominion Bank now owns 45,906 shares of the company's stock valued at $254,000 after buying an additional 28,741 shares during the last quarter. Finally, Two Sigma Investments LP boosted its position in Orla Mining by 453.8% in the 4th quarter. Two Sigma Investments LP now owns 360,170 shares of the company's stock valued at $1,995,000 after buying an additional 295,133 shares during the last quarter. Institutional investors and hedge funds own 43.04% of the company's stock.

Orla Mining Price Performance

Shares of ORLA stock traded down $0.85 during trading hours on Friday, hitting $10.22. The company had a trading volume of 23,458,668 shares, compared to its average volume of 3,036,904. Orla Mining has a 12 month low of $3.81 and a 12 month high of $12.91. The firm has a market capitalization of $3.33 billion, a price-to-earnings ratio of 22.71 and a beta of 0.35. The firm's fifty day moving average is $10.76 and its 200 day moving average is $10.24. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.66 and a current ratio of 0.85.

Analyst Ratings Changes

Separately, CIBC reaffirmed an "outperform" rating on shares of Orla Mining in a research note on Tuesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target 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.