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

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s share price gapped down prior to trading on Monday . The stock had previously closed at $4.59, but opened at $4.46. Orla Mining shares last traded at $4.39, with a volume of 95,068 shares traded.

Wall Street Analyst Weigh In

ORLA has been the subject of several research analyst reports. Scotiabank raised their target price on shares of Orla Mining from $5.75 to $6.00 and gave the stock a “sector perform” rating in a research report on Friday, October 11th. Desjardins upgraded shares of Orla Mining to a “moderate buy” rating in a report on Thursday, October 31st.

Orla Mining Stock Down 4.6 %

The company has a quick ratio of 3.95, a current ratio of 4.54 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $1.41 billion, a PE ratio of 19.96 and a beta of 0.79.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC purchased a new position in shares of Orla Mining in the third quarter worth $43,000. Kitching Partners LLC purchased a new stake in Orla Mining in the 3rd quarter worth $48,000. Walleye Capital LLC bought a new position in shares of Orla Mining during the 3rd quarter valued at about $69,000. DF Dent & Co. Inc. purchased a new position in shares of Orla Mining during the third quarter valued at about $80,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Orla Mining in the third quarter worth about $90,000. 43.04% of the stock is currently owned by institutional investors.

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.