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

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $4.92, but opened at $5.06. Orla Mining shares last traded at $5.02, with a volume of 207,287 shares.

Wall Street Analysts Forecast Growth

Separately, Scotiabank boosted their target price on shares of Orla Mining from $5.75 to $6.00 and gave the company a “sector perform” rating in a research report on Friday, October 11th.

Orla Mining Stock Performance

The stock has a market cap of $1.60 billion, a PE ratio of -98.40 and a beta of 0.83. The company has a quick ratio of 5.02, a current ratio of 5.89 and a debt-to-equity ratio of 0.18.

Orla Mining (NYSEAMERICAN:ORLA) last posted its quarterly earnings data on Monday, August 12th. The company reported $0.07 EPS for the quarter, hitting the consensus estimate of $0.07. Orla Mining had a negative net margin of 4.12% and a positive return on equity of 14.36%. The company had revenue of $84.57 million during the quarter. As a group, equities research analysts predict that Orla Mining Ltd. will post 0.23 EPS for the current year.

Institutional Trading of Orla Mining

A number of large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Orla Mining in the 2nd quarter valued at about $1,151,000. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Orla Mining in the 1st quarter valued at $893,000. Goehring & Rozencwajg Associates LLC raised its position in shares of Orla Mining by 16.3% in the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 1,295,214 shares of the company’s stock worth $4,969,000 after acquiring an additional 181,900 shares in the last quarter. U S Global Investors Inc. lifted its stake in shares of Orla Mining by 20.7% during the 2nd quarter. U S Global Investors Inc. now owns 301,660 shares of the company’s stock worth $1,282,000 after purchasing an additional 51,660 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Orla Mining by 92.4% during 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. 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.