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

Orla Mining Ltd. (NYSEAMERICAN:ORLA - Get Free Report)'s stock price gapped down before the market opened 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 trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Desjardins raised shares of Orla Mining to a "moderate buy" rating in a report on Thursday, October 31st. Scotiabank upgraded shares of Orla Mining from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, November 27th.

Orla Mining Stock Performance

The company has a debt-to-equity ratio of 0.12, a current ratio of 4.54 and a quick ratio of 3.95. The company has a market cap of $1.80 billion, a price-to-earnings ratio of -559.44 and a beta of 0.75.

Hedge Funds Weigh In On Orla Mining

Several large investors have recently bought and sold shares of ORLA. CWA Asset Management Group LLC bought a new stake in shares of Orla Mining in the 3rd quarter worth $5,927,000. Goehring & Rozencwajg Associates LLC grew its holdings in Orla Mining by 16.3% during the second quarter. Goehring & Rozencwajg Associates LLC now owns 1,295,214 shares of the company's stock worth $4,969,000 after acquiring an additional 181,900 shares during the period. Allspring Global Investments Holdings LLC raised its position in Orla Mining by 50.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 450,000 shares of the company's stock worth $1,812,000 after acquiring an additional 150,000 shares in the last quarter. National Bank of Canada FI lifted its holdings in Orla Mining by 21.4% in the 3rd quarter. National Bank of Canada FI now owns 421,108 shares of the company's stock valued at $1,687,000 after acquiring an additional 74,293 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in Orla Mining by 4.3% in the 2nd quarter. American Century Companies Inc. now owns 412,400 shares of the company's stock valued at $1,583,000 after acquiring an additional 17,100 shares during the last quarter. 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.