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

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $9.35, but opened at $9.10. Orla Mining shares last traded at $9.41, with a volume of 276,914 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ORLA shares. TD Securities upgraded shares of Orla Mining to a “hold” rating in a research report on Tuesday, February 4th. Stifel Canada raised shares of Orla Mining to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, TD Cowen initiated coverage on Orla Mining in a research report on Tuesday, February 4th. They set a “hold” rating for the company. Two research analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $6.13.

Orla Mining Stock Up 2.8 %

The company has a market cap of $3.08 billion, a P/E ratio of -955.04 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. The business has a 50-day simple moving average of $7.40.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Mariner LLC purchased a new position in shares of Orla Mining in the fourth quarter worth about $58,000. Scotia Capital Inc. bought a new stake in Orla Mining in the fourth quarter valued at approximately $67,000. Walleye Capital LLC purchased a new stake in shares of Orla Mining during the third quarter valued at approximately $69,000. DF Dent & Co. Inc. bought a new position in shares of Orla Mining in the third quarter worth approximately $80,000. Finally, Two Sigma Advisers LP purchased a new position in shares of Orla Mining in the fourth quarter worth $84,000. 43.04% of the stock is currently owned by institutional investors.

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.