Orla Mining (NYSEAMERICAN:ORLA) Shares Gap Up – Still a Buy?

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $4.43, but opened at $4.72. Orla Mining shares last traded at $4.17, with a volume of 83,902 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ORLA shares. Scotiabank raised their price objective on Orla Mining from $5.75 to $6.00 and gave the company a “sector perform” rating in a research note on Friday, October 11th. Desjardins raised Orla Mining to a “moderate buy” rating in a research report on Thursday, October 31st.

Orla Mining Trading Down 3.8 %

The stock has a market cap of $1.23 billion, a PE ratio of -383.62 and a beta of 0.79. The company has a debt-to-equity ratio of 0.18, a current ratio of 5.89 and a quick ratio of 5.02.

Orla Mining (NYSEAMERICAN:ORLA) last announced its earnings results on Monday, August 12th. The company reported $0.07 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.07. The company had revenue of $84.57 million for the quarter. Orla Mining had a return on equity of 17.60% and a net margin of 1.42%. As a group, research analysts forecast that Orla Mining Ltd. will post 0.24 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Goehring & Rozencwajg Associates LLC boosted its position in Orla Mining by 16.3% in the second quarter. Goehring & Rozencwajg Associates LLC now owns 1,295,214 shares of the company’s stock worth $4,969,000 after purchasing an additional 181,900 shares during the last quarter. CWA Asset Management Group LLC bought a new stake in shares of Orla Mining in the third quarter valued at $5,927,000. Allspring Global Investments Holdings LLC raised its stake in shares of Orla Mining by 50.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 450,000 shares of the company’s stock valued at $1,812,000 after buying an additional 150,000 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Orla Mining in the second quarter valued at $102,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Orla Mining in the third quarter valued at $43,000. Hedge funds and other 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.