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

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $9.12, but opened at $8.53. Orla Mining shares last traded at $9.35, with a volume of 338,718 shares.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. TD Cowen started coverage on shares of Orla Mining in a report on Tuesday, February 4th. They set a “hold” rating for the company. TD Securities raised shares of Orla Mining to a “hold” rating in a report on Tuesday, February 4th. Finally, Scotiabank raised Orla Mining from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 27th. Two investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $6.13.

Orla Mining Stock Up 1.0 %

The stock has a market cap of $2.97 billion, a price-to-earnings ratio of -917.68 and a beta of 0.71. The firm has a fifty day moving average price of $6.63. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.54 and a quick ratio of 3.95.

Institutional Investors Weigh In On Orla Mining

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its position in shares of Orla Mining by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 116,293 shares of the company’s stock worth $650,000 after purchasing an additional 1,665 shares during the last quarter. Walleye Capital LLC grew its stake in shares of Orla Mining by 10.2% in the fourth quarter. Walleye Capital LLC now owns 19,128 shares of the company’s stock valued at $106,000 after buying an additional 1,764 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Orla Mining by 0.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 452,000 shares of the company’s stock worth $2,500,000 after buying an additional 2,000 shares during the last quarter. Gotham Asset Management LLC raised its position in Orla Mining by 11.8% during the fourth quarter. Gotham Asset Management LLC now owns 19,393 shares of the company’s stock worth $107,000 after acquiring an additional 2,048 shares in the last quarter. Finally, D.A. Davidson & CO. grew its position in shares of Orla Mining by 2.0% in the 4th quarter. D.A. Davidson & CO. now owns 392,364 shares of the company’s stock valued at $2,174,000 after acquiring an additional 7,667 shares during the period. 43.04% of the stock is currently owned by institutional investors and hedge funds.

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.