Orla Mining (NYSEAMERICAN:ORLA) Shares Gap Down – Time to Sell?

Orla Mining Ltd. (NYSEAMERICAN:ORLA) 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 trading hands.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Scotiabank increased their price objective on shares of Orla Mining from $5.75 to $6.00 and gave the company a “sector perform” rating in a report on Friday, October 11th. Desjardins upgraded Orla Mining to a “moderate buy” rating in a report on Thursday, October 31st.

Orla Mining Trading Up 0.9 %

The stock has a market cap 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

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

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.