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

by · The Markets Daily

Orla Mining Ltd. (NYSEAMERICAN:ORLA – Get Free Report)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $5.44, but opened at $5.32. Orla Mining shares last traded at $5.46, with a volume of 144,518 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ORLA shares. Scotiabank upgraded Orla Mining from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 27th. Desjardins raised Orla Mining to a “moderate buy” rating in a research note on Thursday, October 31st.

Read Our Latest Research Report on ORLA

Orla Mining Stock Performance

The firm has a market capitalization of $1.79 billion, a P/E ratio of -556.44 and a beta of 0.75. The company has a current ratio of 4.54, a quick ratio of 3.95 and a debt-to-equity ratio of 0.12.

Institutional Trading of Orla Mining

Several institutional investors and hedge funds have recently modified their holdings of the business. CWA Asset Management Group LLC acquired a new position in Orla Mining in the third quarter valued at $5,927,000. Goehring & Rozencwajg Associates LLC raised its position in Orla Mining by 16.3% in the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 1,295,214 shares of the company’s stock valued at $4,969,000 after buying an additional 181,900 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Orla Mining by 50.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 450,000 shares of the company’s stock valued at $1,812,000 after purchasing an additional 150,000 shares in the last quarter. National Bank of Canada FI lifted its position in shares of Orla Mining by 21.4% during the 3rd quarter. National Bank of Canada FI now owns 421,108 shares of the company’s stock worth $1,687,000 after buying an additional 74,293 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in Orla Mining by 4.3% in the second quarter. American Century Companies Inc. now owns 412,400 shares of the company’s stock worth $1,583,000 after purchasing an additional 17,100 shares during the last quarter. 43.04% of the stock is currently owned by institutional investors.

Orla Mining Company Profile

(Get Free Report)

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.

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