Orla Mining (NYSEAMERICAN:ORLA) Shares Gap Up – Here’s What Happened

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s share price gapped up prior to trading on Monday . The stock had previously closed at $4.92, but opened at $5.06. Orla Mining shares last traded at $5.02, with a volume of 207,287 shares traded.

Wall Street Analyst Weigh In

Separately, Scotiabank boosted 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 note on Friday, October 11th.

Orla Mining Trading Up 3.4 %

The stock has a market capitalization of $1.65 billion, a PE ratio of -103.00 and a beta of 0.83. The company has a quick ratio of 5.02, a current ratio of 5.89 and a debt-to-equity ratio of 0.18.

Orla Mining (NYSEAMERICAN:ORLA) last posted its earnings results on Monday, August 12th. The company reported $0.07 EPS for the quarter, meeting analysts’ consensus estimates of $0.07. Orla Mining had a negative net margin of 4.12% and a positive return on equity of 14.36%. The firm had revenue of $84.57 million for the quarter. Equities research analysts predict that Orla Mining Ltd. will post 0.23 earnings per share for the current year.

Institutional Investors Weigh In On Orla Mining

Several hedge funds have recently modified their holdings of ORLA. International Assets Investment Management LLC acquired a new stake in shares of Orla Mining in the 3rd quarter valued at approximately $43,000. Renaissance Technologies LLC acquired a new stake in Orla Mining in the second quarter valued at $102,000. Toronto Dominion Bank boosted its position in shares of Orla Mining by 536.1% during the 2nd quarter. Toronto Dominion Bank now owns 27,563 shares of the company’s stock worth $106,000 after purchasing an additional 23,230 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Orla Mining by 92.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,883 shares of the company’s stock valued at $218,000 after purchasing an additional 27,315 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Orla Mining by 2.8% in the second quarter. The Manufacturers Life Insurance Company now owns 177,136 shares of the company’s stock valued at $679,000 after purchasing an additional 4,827 shares during the period. 43.04% of the stock is owned by institutional investors and hedge funds.

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.