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

Orla Mining Ltd. (NYSEAMERICAN:ORLA - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $11.27, but opened at $11.74. Orla Mining shares last traded at $11.88, with a volume of 128,895 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Stifel Canada upgraded Orla Mining to a "strong-buy" rating in a report on Wednesday, March 19th. TD Securities upgraded Orla Mining to a "hold" rating in a research note on Tuesday, February 4th. Finally, TD Cowen assumed coverage on Orla Mining in a report on Tuesday, February 4th. They issued a "hold" rating for the company. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $6.13.

Orla Mining Stock Down 1.1 %

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 company has a market capitalization of $3.46 billion, a P/E ratio of -1,070.93 and a beta of 0.71. The stock has a 50 day moving average price of $8.87 and a 200 day moving average price of $6.30.

Hedge Funds Weigh In On Orla Mining

Hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC boosted its position in shares of Orla Mining by 17.3% during the 4th quarter. FMR LLC now owns 24,065,292 shares of the company's stock worth $133,264,000 after purchasing an additional 3,553,481 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Orla Mining by 0.4% in the fourth quarter. Franklin Resources Inc. now owns 7,578,812 shares of the company's stock worth $41,914,000 after acquiring an additional 31,700 shares in the last quarter. CWA Asset Management Group LLC increased its holdings in shares of Orla Mining by 63.3% during the first quarter. CWA Asset Management Group LLC now owns 2,918,040 shares of the company's stock valued at $27,284,000 after acquiring an additional 1,131,625 shares in the last quarter. Amundi raised its position in shares of Orla Mining by 6.7% during the fourth quarter. Amundi now owns 2,475,689 shares of the company's stock worth $14,483,000 after purchasing an additional 155,200 shares during the period. Finally, Hillsdale Investment Management Inc. bought a new position in shares of Orla Mining in the 4th quarter worth $11,944,000. Institutional investors and hedge funds 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.