Orla Mining (NYSEAMERICAN:ORLA) Shares Gap Up – Should You Buy?

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $4.28, but opened at $4.39. Orla Mining shares last traded at $4.20, with a volume of 50,316 shares changing hands.

Analysts Set New Price Targets

Several research firms have recently commented on ORLA. Scotiabank boosted their target price on shares of Orla Mining from $5.75 to $6.00 and gave the stock 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.

Orla Mining Stock Performance

The stock has a market capitalization of $1.40 billion, a PE ratio of 18.91 and a beta of 0.79. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.95 and a current ratio of 4.54.

Institutional Investors Weigh In On Orla Mining

A number of institutional investors have recently added to or reduced their stakes in ORLA. Goehring & Rozencwajg Associates LLC raised its holdings in shares of Orla Mining by 16.3% during the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 1,295,214 shares of the company’s stock worth $4,969,000 after acquiring an additional 181,900 shares during the period. CWA Asset Management Group LLC acquired a new position in Orla Mining in the third quarter valued at approximately $5,927,000. Allspring Global Investments Holdings LLC boosted its holdings in Orla Mining by 50.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 450,000 shares of the company’s stock valued at $1,812,000 after purchasing an additional 150,000 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Orla Mining in the second quarter valued at approximately $102,000. Finally, International Assets Investment Management LLC purchased a new stake in Orla Mining in the third quarter valued at approximately $43,000. 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.