Orla Mining (NYSEAMERICAN:ORLA) Shares Gap Down - What's Next?

Orla Mining Ltd. (NYSEAMERICAN:ORLA - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $8.21, but opened at $7.27. Orla Mining shares last traded at $7.89, with a volume of 220,712 shares.

Analyst Ratings Changes

ORLA has been the subject of a number of recent analyst reports. TD Securities upgraded Orla Mining to a "hold" rating in a report on Tuesday, February 4th. TD Cowen initiated coverage on Orla Mining in a research note on Tuesday, February 4th. They issued a "hold" rating for the company. Finally, Stifel Canada raised shares of Orla Mining to a "strong-buy" rating in a research note on Wednesday, March 19th. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $6.13.

Orla Mining Trading Up 7.5 %

The company has a fifty day simple moving average of $7.97 and a two-hundred day simple moving average of $5.94. The stock has a market capitalization of $3.42 billion, a P/E ratio of -1,060.94 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.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ORLA. Mackenzie Financial Corp raised its holdings in shares of Orla Mining by 17.2% during the fourth quarter. Mackenzie Financial Corp now owns 145,765 shares of the company's stock worth $806,000 after acquiring an additional 21,353 shares during the period. Two Sigma Advisers LP bought a new position in Orla Mining during the 4th quarter worth about $84,000. Two Sigma Investments LP raised its stake in shares of Orla Mining by 453.8% in the 4th quarter. Two Sigma Investments LP now owns 360,170 shares of the company's stock valued at $1,995,000 after purchasing an additional 295,133 shares during the period. Toronto Dominion Bank lifted its holdings in shares of Orla Mining by 167.4% in the fourth quarter. Toronto Dominion Bank now owns 45,906 shares of the company's stock valued at $254,000 after purchasing an additional 28,741 shares in the last quarter. Finally, Gotham Asset Management LLC boosted its position in shares of Orla Mining by 11.8% during the fourth quarter. Gotham Asset Management LLC now owns 19,393 shares of the company's stock worth $107,000 after buying an additional 2,048 shares during the period. Institutional investors 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.