Orla Mining (NYSEAMERICAN:ORLA) Trading 8.6% Higher – What’s Next?

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s share price shot up 8.6% on Monday . The company traded as high as $4.48 and last traded at $4.28. 167,295 shares changed hands during trading, a decline of 60% from the average session volume of 422,580 shares. The stock had previously closed at $3.94.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ORLA. Desjardins raised Orla Mining to a “moderate buy” rating in a report on Thursday, October 31st. Scotiabank boosted their price target on shares of Orla Mining from $5.75 to $6.00 and gave the company a “sector perform” rating in a report on Friday, October 11th.

Orla Mining Price Performance

The company has a debt-to-equity ratio of 0.12, a current ratio of 4.54 and a quick ratio of 3.95. The firm has a market capitalization of $1.39 billion, a PE ratio of -434.07 and a beta of 0.79.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Barclays PLC increased its position in shares of Orla Mining by 86.5% in the third quarter. Barclays PLC now owns 47,177 shares of the company’s stock worth $189,000 after acquiring an additional 21,877 shares in the last quarter. Geode Capital Management LLC boosted its stake in Orla Mining by 11.9% in the 3rd quarter. Geode Capital Management LLC now owns 114,628 shares of the company’s stock worth $463,000 after purchasing an additional 12,159 shares during the period. Public Employees Retirement System of Ohio purchased a new position in Orla Mining during the 3rd quarter worth approximately $241,000. XTX Topco Ltd acquired a new stake in Orla Mining during the 3rd quarter valued at $325,000. Finally, DF Dent & Co. Inc. purchased a new stake in shares of Orla Mining in the third quarter valued at $80,000. 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.