Orla Mining (NYSEAMERICAN:ORLA) Shares Gap Down – Time to Sell?

Orla Mining Ltd. (NYSEAMERICAN:ORLA) gapped down before the market opened on Monday . The stock had previously closed at $8.21, but opened at $7.27. Orla Mining shares last traded at $7.89, with a volume of 220,712 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. TD Securities raised Orla Mining to a “hold” rating in a research report on Tuesday, February 4th. Stifel Canada upgraded Orla Mining to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, TD Cowen assumed coverage on Orla Mining in a research note 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 issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $6.13.

Orla Mining Stock Up 0.2 %

The company has a 50-day simple moving average of $7.52. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.54 and a quick ratio of 3.95. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of -822.18 and a beta of 0.71.

Hedge Funds Weigh In On Orla Mining

Hedge funds have recently modified their holdings of the stock. Mariner LLC purchased a new position in Orla Mining in the 4th quarter worth $58,000. Scotia Capital Inc. purchased a new position in shares of Orla Mining in the fourth quarter worth about $67,000. Walleye Capital LLC purchased a new position in shares of Orla Mining in the third quarter worth about $69,000. DF Dent & Co. Inc. acquired a new stake in shares of Orla Mining during the third quarter worth about $80,000. Finally, Two Sigma Advisers LP purchased a new stake in Orla Mining in the fourth quarter valued at approximately $84,000. Institutional investors and hedge funds own 43.04% of the company’s stock.

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.