Orla Mining (NYSEAMERICAN:ORLA) Shares Gap Down – What’s Next?

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s share price 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.

Analysts Set New Price Targets

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

Orla Mining Stock Performance

The company has a market cap of $1.77 billion, a price-to-earnings ratio of -551.45 and a beta of 0.75. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.95 and a current ratio of 4.54.

Hedge Funds Weigh In On Orla Mining

Several institutional investors have recently made changes to their positions in the business. Sanctuary Advisors LLC bought a new position in shares of Orla Mining in the third quarter worth about $90,000. Barclays PLC raised its stake in Orla Mining by 86.5% during the 3rd 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. Geode Capital Management LLC lifted its holdings in Orla Mining by 11.9% during the third quarter. Geode Capital Management LLC now owns 114,628 shares of the company’s stock valued at $463,000 after purchasing an additional 12,159 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Orla Mining in the third quarter worth approximately $241,000. Finally, XTX Topco Ltd purchased a new stake in shares of Orla Mining in the third quarter worth $325,000. Institutional investors own 43.04% of the company’s stock.

About Orla Mining

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.