Orla Mining (NYSEAMERICAN:ORLA) Shares Gap Up – Still a Buy?

Orla Mining Ltd. (NYSEAMERICAN:ORLA) shares gapped up prior to trading on Wednesday . The stock had previously closed at $4.43, but opened at $4.72. Orla Mining shares last traded at $4.17, with a volume of 83,902 shares trading hands.

Analyst Ratings Changes

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

Orla Mining Price Performance

The company has a market cap of $1.23 billion, a price-to-earnings ratio of -383.62 and a beta of 0.79. 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 announced its quarterly 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 return on equity of 17.60% and a net margin of 1.42%. The firm had revenue of $84.57 million for the quarter. Equities analysts predict that Orla Mining Ltd. will post 0.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Orla Mining

A number of hedge funds have recently added to or reduced their stakes in the business. Kitching Partners LLC bought a new stake in Orla Mining in the third quarter worth approximately $48,000. PDT Partners LLC increased its holdings in Orla Mining by 53.6% in the third quarter. PDT Partners LLC now owns 70,379 shares of the company’s stock worth $282,000 after purchasing an additional 24,545 shares in the last quarter. Walleye Capital LLC acquired a new stake in Orla Mining in the third quarter valued at approximately $69,000. D.A. Davidson & CO. acquired a new stake in Orla Mining in the third quarter valued at approximately $1,539,000. Finally, The Manufacturers Life Insurance Company grew its stake in Orla Mining by 67.2% in the third quarter. The Manufacturers Life Insurance Company now owns 296,097 shares of the company’s stock valued at $1,192,000 after acquiring an additional 118,961 shares during the period. 43.04% of the stock is currently owned by 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.