Orla Mining (NYSEAMERICAN:ORLA) Shares Gap Down – Here’s What Happened

Shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) gapped down prior to trading on Thursday . The stock had previously closed at $5.44, but opened at $5.32. Orla Mining shares last traded at $5.46, with a volume of 144,518 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Scotiabank raised shares of Orla Mining from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 27th. Desjardins upgraded shares of Orla Mining to a “moderate buy” rating in a research report on Thursday, October 31st.

Orla Mining Stock 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 has a market cap of $1.77 billion, a price-to-earnings ratio of -551.45 and a beta of 0.75.

Hedge Funds Weigh In On Orla Mining

A number of institutional investors have recently added to or reduced their stakes in ORLA. Allspring Global Investments Holdings LLC bought a new position in Orla Mining during the 2nd quarter valued at approximately $1,151,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Orla Mining by 92.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,883 shares of the company’s stock worth $218,000 after purchasing an additional 27,315 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Orla Mining by 7.9% in the 2nd quarter. CIBC Asset Management Inc now owns 293,268 shares of the company’s stock worth $1,125,000 after purchasing an additional 21,576 shares in the last quarter. American Century Companies Inc. grew its position in Orla Mining by 4.3% during the 2nd quarter. American Century Companies Inc. now owns 412,400 shares of the company’s stock valued at $1,583,000 after purchasing an additional 17,100 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Orla Mining during the 2nd quarter valued at about $102,000. Institutional investors 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.