Orla Mining (NYSEAMERICAN:ORLA) Shares Gap Up – Should You Buy?

Orla Mining Ltd. (NYSEAMERICAN:ORLA) gapped up before the market opened 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 traded.

Analysts Set New Price Targets

A number of analysts have weighed in on ORLA shares. Desjardins upgraded shares of Orla Mining to a “moderate buy” rating in a research report on Thursday, October 31st. Scotiabank raised their target price 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 Price Performance

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 cap of $1.40 billion, a price-to-earnings ratio of 18.91 and a beta of 0.79.

Institutional Trading of Orla Mining

Several hedge funds and other institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company increased its holdings in shares of Orla Mining by 2.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 177,136 shares of the company’s stock worth $679,000 after buying an additional 4,827 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Orla Mining in the 3rd quarter valued at $43,000. Kitching Partners LLC purchased a new stake in shares of Orla Mining in the 3rd quarter valued at $48,000. Geode Capital Management LLC boosted its stake in shares of Orla Mining by 11.9% in the 3rd quarter. Geode Capital Management LLC now owns 114,628 shares of the company’s stock valued at $463,000 after purchasing an additional 12,159 shares in the last quarter. Finally, Jane Street Group LLC boosted its stake in shares of Orla Mining by 7.8% in the 3rd quarter. Jane Street Group LLC now owns 212,002 shares of the company’s stock valued at $853,000 after purchasing an additional 15,404 shares in the last quarter. 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.