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

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s stock price gapped down prior to trading 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 traded.

Wall Street Analysts Forecast Growth

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

Orla Mining Price Performance

The firm has a market capitalization of $3.00 billion, a PE ratio of -929.07 and a beta of 0.71. The business has a fifty day simple moving average of $6.77. 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 hedge funds and other institutional investors have recently modified their holdings of ORLA. Kitching Partners LLC acquired a new position in shares of Orla Mining during the third quarter valued at $48,000. Mariner LLC acquired a new stake in Orla Mining in the fourth quarter worth about $58,000. Scotia Capital Inc. acquired a new stake in Orla Mining in the fourth quarter worth about $67,000. Walleye Capital LLC acquired a new stake in Orla Mining in the third quarter worth about $69,000. Finally, DF Dent & Co. Inc. acquired a new stake in Orla Mining in the third quarter worth about $80,000. Institutional investors and hedge funds 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.