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

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s share price gapped up before the market opened on Monday . The stock had previously closed at $10.39, but opened at $10.88. Orla Mining shares last traded at $10.63, with a volume of 101,986 shares traded.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ORLA. TD Securities upgraded shares of Orla Mining to a “hold” rating in a research note on Tuesday, February 4th. TD Cowen began coverage on Orla Mining in a report on Tuesday, February 4th. They set a “hold” rating for the company. Finally, Stifel Canada upgraded shares of Orla Mining to a “strong-buy” rating in a research report on Wednesday, March 19th. Two research 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.com, the company has a consensus rating of “Buy” and a consensus target price of $6.13.

Orla Mining Price Performance

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 company’s 50 day moving average is $9.40 and its 200 day moving average is $6.52. The stock has a market cap of $3.79 billion, a price-to-earnings ratio of -1,174.83 and a beta of 0.71.

Institutional Trading of Orla Mining

Large investors have recently bought and sold shares of the company. Mariner LLC acquired a new stake in Orla Mining during the 4th quarter valued at $58,000. Scotia Capital Inc. purchased a new stake in shares of Orla Mining in the fourth quarter valued at $67,000. Two Sigma Advisers LP acquired a new stake in shares of Orla Mining during the fourth quarter valued at $84,000. Walleye Capital LLC increased its position in Orla Mining by 10.2% during the 4th quarter. Walleye Capital LLC now owns 19,128 shares of the company’s stock worth $106,000 after purchasing an additional 1,764 shares in the last quarter. Finally, Gotham Asset Management LLC lifted its holdings in Orla Mining by 11.8% in the 4th quarter. Gotham Asset Management LLC now owns 19,393 shares of the company’s stock valued at $107,000 after purchasing an additional 2,048 shares in the last quarter. 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.