Orla Mining (NYSEAMERICAN:ORLA) Shares Up 8.6% – Time to Buy?

Posted by Michael Baxter on Nov 18th, 2024

Orla Mining Ltd. (NYSEAMERICAN:ORLA – Get Free Report) shot up 8.6% during mid-day trading 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.

Analyst Upgrades and Downgrades

ORLA has been the topic of a number of research reports. Scotiabank raised their price objective on Orla Mining from $5.75 to $6.00 and gave the company a “sector perform” rating in a report on Friday, October 11th. Desjardins upgraded shares of Orla Mining to a “moderate buy” rating in a report on Thursday, October 31st.

Get Our Latest Stock Analysis on Orla Mining

Orla Mining Trading Up 8.1 %

The company has a current ratio of 4.54, a quick ratio of 5.02 and a debt-to-equity ratio of 0.12. The stock has a market cap of $1.37 billion, a PE ratio of -431.57 and a beta of 0.79.

Institutional Investors Weigh In On Orla Mining

Hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC bought a new stake in Orla Mining in the third quarter worth $43,000. Kitching Partners LLC bought a new position in Orla Mining in the 3rd quarter worth about $48,000. Walleye Capital LLC purchased a new stake in Orla Mining during the 3rd quarter valued at about $69,000. DF Dent & Co. Inc. bought a new stake in Orla Mining during the 3rd quarter valued at about $80,000. Finally, Renaissance Technologies LLC purchased a new position in Orla Mining in the second quarter worth about $102,000. Institutional investors own 43.04% of the company’s stock.

About Orla Mining

(Get Free Report)

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.