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

Orla Mining Ltd. (NYSEAMERICAN:ORLA) shares gapped down before the market opened on Tuesday . The stock had previously closed at $10.44, but opened at $10.19. Orla Mining shares last traded at $10.23, with a volume of 115,165 shares traded.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ORLA. TD Cowen began coverage on Orla Mining in a report on Tuesday, February 4th. They set a “hold” rating for the company. Stifel Canada raised Orla Mining to a “strong-buy” rating in a research note on Wednesday, March 19th. Finally, TD Securities raised Orla Mining to a “hold” rating in a research note on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Orla Mining currently has a consensus rating of “Buy” and an average price target of $6.00.

Orla Mining Price Performance

The company has a 50 day moving average price of $10.03 and a 200-day moving average price of $6.90. The company has a market cap of $3.36 billion, a price-to-earnings ratio of -1,040.96 and a beta of 0.71. The company has a quick ratio of 3.95, a current ratio of 4.54 and a debt-to-equity ratio of 0.12.

Institutional Trading of Orla Mining

Several institutional investors have recently added to or reduced their stakes in the stock. Mariner LLC acquired a new position in shares of Orla Mining during the fourth quarter worth approximately $58,000. Scotia Capital Inc. acquired a new position in shares of Orla Mining during the fourth quarter worth approximately $67,000. Two Sigma Advisers LP acquired a new position in shares of Orla Mining during the fourth quarter worth approximately $84,000. Banque Cantonale Vaudoise acquired a new position in shares of Orla Mining during the first quarter worth approximately $86,000. Finally, Walleye Capital LLC raised its position in shares of Orla Mining by 10.2% during the fourth quarter. Walleye Capital LLC now owns 19,128 shares of the company’s stock worth $106,000 after purchasing an additional 1,764 shares during the period. 43.04% of the stock is currently owned by institutional investors.

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.