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

by · The Markets Daily

Orla Mining Ltd. (NYSEAMERICAN:ORLA – Get Free Report)’s stock price was up 4.6% on Thursday . The company traded as high as $4.32 and last traded at $4.32. Approximately 188,958 shares were traded during trading, a decline of 53% from the average daily volume of 406,218 shares. The stock had previously closed at $4.13.

Analyst Upgrades and Downgrades

Separately, Scotiabank increased their price objective on Orla Mining from $5.75 to $6.00 and gave the stock a “sector perform” rating in a report on Friday.

Get Our Latest Analysis on ORLA

Orla Mining Stock Performance

The company has a market capitalization of $1.44 billion, a P/E ratio of -90.00 and a beta of 0.83. The company has a current ratio of 5.89, a quick ratio of 5.02 and a debt-to-equity ratio of 0.18.

Orla Mining (NYSEAMERICAN:ORLA – Get Free Report) last issued its earnings results on Monday, August 12th. The company reported $0.07 earnings per share for the quarter, meeting the consensus estimate of $0.07. Orla Mining had a positive return on equity of 14.36% and a negative net margin of 4.12%. The company had revenue of $84.57 million during the quarter. As a group, sell-side analysts predict that Orla Mining Ltd. will post 0.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Orla Mining

Institutional investors and hedge funds have recently bought and sold shares of the business. Edmond DE Rothschild Holding S.A. purchased a new position in Orla Mining during the first quarter valued at $893,000. U S Global Investors Inc. lifted its position in Orla Mining by 20.7% during the 2nd quarter. U S Global Investors Inc. now owns 301,660 shares of the company’s stock valued at $1,282,000 after acquiring an additional 51,660 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Orla Mining during the second quarter worth about $1,151,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Orla Mining by 92.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,883 shares of the company’s stock worth $218,000 after purchasing an additional 27,315 shares during the period. Finally, CIBC Asset Management Inc grew its holdings in Orla Mining by 7.9% in the second quarter. CIBC Asset Management Inc now owns 293,268 shares of the company’s stock worth $1,125,000 after purchasing an additional 21,576 shares during the period. Hedge funds and other institutional investors own 43.04% of the company’s stock.

Orla Mining Company Profile

(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.

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