Orla Mining (NYSEAMERICAN:ORLA) Shares Gap Down – Should You Sell?

Orla Mining Ltd. (NYSEAMERICAN:ORLA) shares gapped down prior to trading on Tuesday . The stock had previously closed at $9.35, but opened at $9.10. Orla Mining shares last traded at $9.41, with a volume of 276,914 shares trading hands.

Analyst Upgrades and Downgrades

ORLA has been the subject of several research analyst reports. Stifel Canada raised shares of Orla Mining to a “strong-buy” rating in a report on Wednesday, March 19th. TD Securities upgraded shares of Orla Mining to a “hold” rating in a research report on Tuesday, February 4th. Finally, TD Cowen started coverage on Orla Mining in a research report on Tuesday, February 4th. They issued a “hold” rating on the stock. Two investment analysts have rated the stock with a hold rating, one has given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Orla Mining has a consensus rating of “Buy” and a consensus target price of $6.13.

Orla Mining Price Performance

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’s 50-day moving average price is $7.24. The firm has a market capitalization of $3.03 billion, a P/E ratio of -938.56 and a beta of 0.71.

Institutional Investors Weigh In On Orla Mining

Hedge funds and other institutional investors have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Orla Mining during the 3rd quarter worth $242,000. The Manufacturers Life Insurance Company grew its stake in Orla Mining by 67.2% during the third quarter. The Manufacturers Life Insurance Company now owns 296,097 shares of the company’s stock worth $1,192,000 after buying an additional 118,961 shares in the last quarter. Walleye Capital LLC acquired a new stake in Orla Mining during the third quarter worth about $69,000. PDT Partners LLC increased its holdings in Orla Mining by 53.6% in the 3rd quarter. PDT Partners LLC now owns 70,379 shares of the company’s stock valued at $282,000 after buying an additional 24,545 shares during the period. Finally, Jane Street Group LLC raised its position in shares of Orla Mining by 7.8% in the 3rd quarter. Jane Street Group LLC now owns 212,002 shares of the company’s stock valued at $853,000 after buying an additional 15,404 shares in the last quarter. 43.04% of the stock is currently owned by institutional investors and hedge funds.

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.