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

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s stock 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.

Analysts Set New Price Targets

ORLA has been the subject of a number of analyst reports. Scotiabank increased 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 report on Thursday, October 31st.

Orla Mining Stock Down 4.6 %

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

Institutional Investors Weigh In On Orla Mining

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