Orla Mining (NYSEAMERICAN:ORLA) Shares Gap Up - Here's Why

Orla Mining Ltd. (NYSEAMERICAN:ORLA - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $4.28, but opened at $4.39. Orla Mining shares last traded at $4.20, with a volume of 50,316 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Desjardins raised Orla Mining to a "moderate buy" rating in a research note on Thursday, October 31st. Scotiabank lifted their price target on shares of Orla Mining from $5.75 to $6.00 and gave the company a "sector perform" rating in a research report on Friday, October 11th.

Orla Mining Trading Up 1.5 %

The company has a current ratio of 4.54, a quick ratio of 3.95 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $1.39 billion, a P/E ratio of -434.07 and a beta of 0.79.

Institutional Trading of Orla Mining

Several institutional investors and hedge funds have recently made changes to their positions in ORLA. CWA Asset Management Group LLC purchased a new position in shares of Orla Mining during the 3rd quarter worth $5,927,000. Goehring & Rozencwajg Associates LLC boosted its stake 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 worth $4,969,000 after buying an additional 181,900 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Orla Mining by 50.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 450,000 shares of the company's stock valued at $1,812,000 after buying an additional 150,000 shares during the period. National Bank of Canada FI increased its stake 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 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 shares of Orla Mining by 4.3% during the 2nd quarter. American Century Companies Inc. now owns 412,400 shares of the company's stock worth $1,583,000 after acquiring an additional 17,100 shares during the period. 43.04% of the stock is currently owned by hedge funds and other institutional investors.

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.