Orla Mining (NYSEAMERICAN:ORLA) Shares Gap Up – Time to Buy?

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 changing hands.

Analyst Ratings Changes

Separately, Scotiabank boosted their price target 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 Trading Up 1.2 %

The company has a debt-to-equity ratio of 0.18, a current ratio of 5.89 and a quick ratio of 5.02. The company has a market capitalization of $1.60 billion, a P/E ratio of -98.40 and a beta of 0.83.

Orla Mining (NYSEAMERICAN:ORLA) last released its quarterly earnings data on Monday, August 12th. The company reported $0.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.07. Orla Mining had a positive return on equity of 14.36% and a negative net margin of 4.12%. The business had revenue of $84.57 million during the quarter. Analysts anticipate that Orla Mining Ltd. will post 0.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Orla Mining

Several hedge funds have recently bought and sold shares of the stock. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Orla Mining in the 1st quarter worth $893,000. U S Global Investors Inc. grew its holdings 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 period. Allspring Global Investments Holdings LLC acquired a new stake in Orla Mining during the 2nd quarter worth approximately $1,151,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Orla Mining by 92.4% in the second 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. Finally, CIBC Asset Management Inc lifted its position in Orla Mining by 7.9% during the second quarter. CIBC Asset Management Inc now owns 293,268 shares of the company’s stock valued at $1,125,000 after buying an additional 21,576 shares in the last quarter. Hedge funds and other institutional investors own 43.04% of the company’s stock.

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.