Orla Mining (NYSEAMERICAN:ORLA) Shares Gap Down – Here’s What Happened

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $9.12, but opened at $8.53. Orla Mining shares last traded at $9.35, with a volume of 338,718 shares.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ORLA. Scotiabank upgraded Orla Mining from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 27th. TD Securities raised shares of Orla Mining to a “hold” rating in a report on Tuesday, February 4th. Finally, TD Cowen assumed coverage on shares of Orla Mining in a research note on Tuesday, February 4th. They issued a “hold” rating for the company. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Orla Mining presently has an average rating of “Moderate Buy” and an average price target of $6.13.

Orla Mining Trading Up 1.0 %

The stock’s 50 day simple moving average is $6.63. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of -917.68 and a beta of 0.71. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.95 and a current ratio of 4.54.

Hedge Funds Weigh In On Orla Mining

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ORLA. Mariner LLC acquired a new stake in Orla Mining in the 4th quarter valued at about $58,000. Kitching Partners LLC bought a new position in Orla Mining in the 3rd quarter worth approximately $48,000. Scotia Capital Inc. acquired a new position in Orla Mining during the 4th quarter worth $67,000. Two Sigma Advisers LP bought a new position in Orla Mining in the 4th quarter valued at $84,000. Finally, Walleye Capital LLC acquired a new stake in shares of Orla Mining in the 3rd quarter valued at $69,000. 43.04% of the stock is currently owned by institutional investors and hedge funds.

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.