Orla Mining (NYSEAMERICAN:ORLA) Shares Gap Down – Should You Sell?

Orla Mining Ltd. (NYSEAMERICAN:ORLA) shares gapped down before the market opened on Monday . The stock had previously closed at $11.10, but opened at $9.80. Orla Mining shares last traded at $9.14, with a volume of 608,172 shares traded.

Analyst Upgrades and Downgrades

ORLA has been the subject of a number of analyst reports. TD Cowen began coverage on Orla Mining in a research report on Tuesday, February 4th. They issued a “hold” rating for the company. Stifel Canada upgraded Orla Mining to a “strong-buy” rating in a research note on Wednesday, March 19th. Finally, TD Securities upgraded 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, one has issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $6.13.

Orla Mining Trading Down 15.9%

The firm has a market cap of $3.01 billion, a price-to-earnings ratio of -930.57 and a beta of 0.71. 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’s fifty day moving average is $9.64 and its 200-day moving average is $6.62.

Institutional Trading of Orla Mining

A number of institutional investors have recently modified their holdings of ORLA. Geode Capital Management LLC boosted its position in Orla Mining by 11.9% during the 3rd quarter. Geode Capital Management LLC now owns 114,628 shares of the company’s stock valued at $463,000 after buying an additional 12,159 shares during the period. Barclays PLC grew its stake in shares of Orla Mining by 86.5% in the third quarter. Barclays PLC now owns 47,177 shares of the company’s stock worth $189,000 after acquiring an additional 21,877 shares during the period. JPMorgan Chase & Co. grew its position in Orla Mining by 262.3% during the third quarter. JPMorgan Chase & Co. now owns 284,408 shares of the company’s stock valued at $1,138,000 after buying an additional 205,911 shares during the period. Stratos Wealth Advisors LLC lifted its holdings in Orla Mining by 39.4% during the fourth quarter. Stratos Wealth Advisors LLC now owns 50,185 shares of the company’s stock valued at $278,000 after purchasing an additional 14,185 shares in the last quarter. Finally, Quattro Financial Advisors LLC lifted its holdings in shares of Orla Mining by 106.9% in the fourth quarter. Quattro Financial Advisors LLC now owns 118,615 shares of the company’s stock worth $707,000 after buying an additional 61,280 shares in the last quarter. 43.04% of the stock is currently owned by hedge funds and other 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.