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

Orla Mining Ltd. (NYSEAMERICAN:ORLA) gapped up before the market opened on Friday . The stock had previously closed at $10.03, but opened at $10.31. Orla Mining shares last traded at $10.29, with a volume of 163,277 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ORLA shares. Stifel Canada upgraded shares of Orla Mining to a “strong-buy” rating in a research note on Wednesday, March 19th. TD Securities upgraded shares of Orla Mining to a “hold” rating in a research note on Tuesday, February 4th. Finally, TD Cowen started coverage on shares of Orla Mining in a research note on Tuesday, February 4th. They set a “hold” rating on the stock. Two analysts have rated the stock with a hold rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $6.00.

Orla Mining Trading Up 4.1%

The company has a market capitalization of $3.37 billion, a price-to-earnings ratio of -1,042.96 and a beta of 0.71. The company has a quick ratio of 3.95, a current ratio of 4.54 and a debt-to-equity ratio of 0.12. The company’s 50 day simple moving average is $9.95 and its two-hundred day simple moving average is $6.82.

Institutional Investors Weigh In On Orla Mining

Institutional investors have recently bought and sold shares of the company. Banque Cantonale Vaudoise purchased a new position in shares of Orla Mining in the first quarter worth $86,000. Mariner LLC purchased a new position in shares of Orla Mining in the fourth quarter worth $58,000. Scotia Capital Inc. purchased a new position in shares of Orla Mining in the fourth quarter worth $67,000. Plato Investment Management Ltd purchased a new position in shares of Orla Mining in the first quarter worth $138,000. Finally, Two Sigma Advisers LP purchased a new position in shares of Orla Mining in the fourth quarter worth $84,000. 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.