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 $4.43, but opened at $4.72. Orla Mining shares last traded at $4.17, with a volume of 83,902 shares.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Scotiabank increased their price target on shares of Orla Mining from $5.75 to $6.00 and gave the stock a “sector perform” rating in a research report on Friday, October 11th. Desjardins raised Orla Mining to a “moderate buy” rating in a research report on Thursday, October 31st.

Orla Mining Stock Down 10.6 %

The company has a debt-to-equity ratio of 0.18, a quick ratio of 5.02 and a current ratio of 5.89. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 19.26 and a beta of 0.79.

Orla Mining (NYSEAMERICAN:ORLA) last posted its earnings results on Monday, August 12th. The company reported $0.07 EPS for the quarter, hitting the consensus estimate of $0.07. Orla Mining had a return on equity of 17.60% and a net margin of 1.42%. The business had revenue of $84.57 million during the quarter. On average, equities research analysts anticipate that Orla Mining Ltd. will post 0.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC bought a new stake in shares of Orla Mining in the 3rd quarter worth about $43,000. Renaissance Technologies LLC bought a new position in shares of Orla Mining in the 2nd quarter worth $102,000. Toronto Dominion Bank boosted its stake in Orla Mining by 536.1% in the second quarter. Toronto Dominion Bank now owns 27,563 shares of the company’s stock valued at $106,000 after acquiring an additional 23,230 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Orla Mining by 92.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,883 shares of the company’s stock valued at $218,000 after acquiring an additional 27,315 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Orla Mining in the 3rd quarter worth approximately $242,000. 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.