Orla Mining (NYSEAMERICAN:ORLA) Shares Up 1.1%

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s stock price was up 1.1% during trading on Thursday . The company traded as high as $3.97 and last traded at $3.83. Approximately 150,082 shares changed hands during trading, a decline of 44% from the average daily volume of 266,744 shares. The stock had previously closed at $3.79.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ORLA shares. Stifel Nicolaus lifted their price target on Orla Mining from $6.00 to $6.25 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Scotiabank cut shares of Orla Mining from a “sector outperform” rating to a “sector perform” rating in a research report on Thursday, May 23rd.

Orla Mining Price Performance

The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.70 and a current ratio of 5.68. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -47.87 and a beta of 0.82.

Orla Mining (NYSEAMERICAN:ORLA) last posted its quarterly earnings results on Tuesday, May 14th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. The business had revenue of $67.28 million during the quarter. Orla Mining had a negative net margin of 9.11% and a positive return on equity of 12.32%. Equities analysts expect that Orla Mining Ltd. will post 0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Orla Mining

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of Nova Scotia purchased a new stake in Orla Mining in the third quarter valued at $53,000. First Personal Financial Services lifted its position in Orla Mining by 22.1% in the fourth quarter. First Personal Financial Services now owns 38,115 shares of the company’s stock valued at $124,000 after acquiring an additional 6,905 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Orla Mining by 50.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,089 shares of the company’s stock valued at $180,000 after acquiring an additional 18,375 shares during the last quarter. NewGen Asset Management Ltd purchased a new stake in shares of Orla Mining in the fourth quarter valued at about $4,712,000. Finally, National Bank of Canada FI raised its holdings in shares of Orla Mining by 5.2% in the fourth quarter. National Bank of Canada FI now owns 344,281 shares of the company’s stock valued at $1,092,000 after buying an additional 16,981 shares during the last quarter. Institutional investors and hedge funds 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.