Orla Mining (NYSEAMERICAN:ORLA) Sees Large Volume Increase

Orla Mining Ltd. (NYSEAMERICAN:ORLAGet Rating) shares saw strong trading volume on Thursday . 6,606 shares traded hands during trading, a decline of 94% from the previous session’s volume of 103,408 shares.The stock last traded at $4.71 and had previously closed at $4.83.

Several equities analysts have weighed in on ORLA shares. Zacks Investment Research cut Orla Mining from a “hold” rating to a “sell” rating in a report on Saturday, April 16th. Scotiabank lifted their price objective on Orla Mining from C$6.75 to C$7.00 in a report on Tuesday.

The company has a market cap of $1.10 billion, a PE ratio of -40.09 and a beta of 0.40. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.28 and a quick ratio of 1.02.

A number of hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. raised its stake in Orla Mining by 1.7% during the 3rd quarter. Franklin Resources Inc. now owns 7,621,752 shares of the company’s stock worth $25,123,000 after buying an additional 130,000 shares during the period. First Eagle Investment Management LLC raised its stake in Orla Mining by 0.6% during the 4th quarter. First Eagle Investment Management LLC now owns 5,895,007 shares of the company’s stock worth $22,509,000 after buying an additional 34,295 shares during the period. Invesco Ltd. raised its stake in shares of Orla Mining by 49.7% in the fourth quarter. Invesco Ltd. now owns 3,132,111 shares of the company’s stock worth $11,965,000 after purchasing an additional 1,039,517 shares during the last quarter. Swiss National Bank raised its stake in shares of Orla Mining by 3.3% in the fourth quarter. Swiss National Bank now owns 327,900 shares of the company’s stock worth $1,248,000 after purchasing an additional 10,400 shares during the last quarter. Finally, Wells Fargo & Company MN purchased a new stake in shares of Orla Mining in the second quarter worth approximately $1,240,000. 26.16% of the stock is currently owned by institutional investors and hedge funds.

About Orla Mining (NYSEAMERICAN:ORLA)

Orla Mining Ltd. acquires, explores for, and develops 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 163,129 hectares located in Zacatecas, Mexico; and Cerro Quema project totaling an area of 14,800 hectares located in the Azuero Peninsula, Panama.

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