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

Shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) gapped down prior to trading 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.

Analyst Ratings Changes

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

Orla Mining Stock Performance

The company has a market cap of $2.65 billion, a P/E ratio of -822.18 and a beta of 0.71. The stock’s fifty day simple moving average is $7.52. 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 Trading of Orla Mining

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC lifted its position in shares of Orla Mining by 17.3% during the fourth quarter. FMR LLC now owns 24,065,292 shares of the company’s stock worth $133,264,000 after purchasing an additional 3,553,481 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Orla Mining by 0.4% during the 4th quarter. Franklin Resources Inc. now owns 7,578,812 shares of the company’s stock valued at $41,914,000 after buying an additional 31,700 shares in the last quarter. Amundi lifted its holdings in Orla Mining by 6.7% during the 4th quarter. Amundi now owns 2,475,689 shares of the company’s stock valued at $14,483,000 after buying an additional 155,200 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in Orla Mining in the 4th quarter worth about $11,944,000. Finally, CWA Asset Management Group LLC grew its stake in Orla Mining by 20.6% in the 4th quarter. CWA Asset Management Group LLC now owns 1,786,415 shares of the company’s stock worth $9,897,000 after acquiring an additional 304,748 shares in the last quarter. 43.04% of the stock is owned by hedge funds and other 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.