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

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $4.45, but opened at $4.62. Orla Mining shares last traded at $4.71, with a volume of 64,787 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Scotiabank raised their price target 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 research note on Thursday, October 31st.

Orla Mining Stock Up 6.5 %

The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.95 and a current ratio of 4.54. The firm has a market capitalization of $1.52 billion, a PE ratio of -476.52 and a beta of 0.79.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ORLA. U S Global Investors Inc. grew its stake in shares of Orla Mining by 20.7% in the second 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 in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Orla Mining in the 2nd quarter valued at about $1,151,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Orla Mining by 92.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,883 shares of the company’s stock valued at $218,000 after buying an additional 27,315 shares during the period. CIBC Asset Management Inc raised its position in shares of Orla Mining by 7.9% during the 2nd quarter. CIBC Asset Management Inc now owns 293,268 shares of the company’s stock worth $1,125,000 after buying an additional 21,576 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Orla Mining by 4.3% in the 2nd quarter. American Century Companies Inc. now owns 412,400 shares of the company’s stock worth $1,583,000 after acquiring an additional 17,100 shares during the period. 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.