Orla Mining (NYSEAMERICAN:ORLA) Shares Gap Down – Here’s What Happened

Orla Mining Ltd. (NYSEAMERICAN:ORLAGet Free Report) gapped down before the market opened 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 trading hands.

Analyst Upgrades and Downgrades

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

View Our Latest Analysis on Orla Mining

Orla Mining Price Performance

The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 19.17 and a beta of 0.79. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.54 and a quick ratio of 3.95.

Hedge Funds Weigh In On Orla Mining

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

About Orla Mining

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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.

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