Orla Mining (NYSEAMERICAN:ORLA) Stock Price Up 4.6% – Here’s Why

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s stock price rose 4.6% during trading on Wednesday . The stock traded as high as $5.74 and last traded at $5.72. Approximately 162,718 shares changed hands during trading, a decline of 63% from the average daily volume of 439,195 shares. The stock had previously closed at $5.47.

Wall Street Analysts Forecast Growth

ORLA has been the topic of several recent research reports. Scotiabank raised shares of Orla Mining from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 27th. Desjardins raised shares of Orla Mining to a “moderate buy” rating in a research note on Thursday, October 31st.

Orla Mining Stock Down 0.4 %

The company has a current ratio of 4.54, a quick ratio of 3.95 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.81 billion, a PE ratio of 24.57 and a beta of 0.75.

Institutional Investors Weigh In On Orla Mining

Large investors have recently added to or reduced their stakes in the business. CWA Asset Management Group LLC acquired a new stake in Orla Mining in the 3rd quarter valued at about $5,927,000. Goehring & Rozencwajg Associates LLC raised its holdings in Orla Mining by 16.3% in the second quarter. Goehring & Rozencwajg Associates LLC now owns 1,295,214 shares of the company’s stock valued at $4,969,000 after acquiring an additional 181,900 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Orla Mining by 50.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 450,000 shares of the company’s stock worth $1,812,000 after acquiring an additional 150,000 shares during the last quarter. National Bank of Canada FI grew its holdings in Orla Mining by 21.4% during the 3rd quarter. National Bank of Canada FI now owns 421,108 shares of the company’s stock worth $1,687,000 after acquiring an additional 74,293 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in Orla Mining by 4.3% during the 2nd quarter. American Century Companies Inc. now owns 412,400 shares of the company’s stock worth $1,583,000 after acquiring an additional 17,100 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.