Orla Mining (NYSEAMERICAN:ORLA) Shares Gap Up – Time to Buy?

Shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) gapped up prior to trading on Tuesday . The stock had previously closed at $9.24, but opened at $9.50. Orla Mining shares last traded at $9.23, with a volume of 221,649 shares traded.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Scotiabank upgraded shares of Orla Mining from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 27th. TD Cowen initiated coverage on Orla Mining in a report on Tuesday, February 4th. They issued a “hold” rating on the stock. Finally, TD Securities upgraded Orla Mining to a “hold” rating in a report on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $6.13.

Orla Mining Trading Down 3.4 %

The firm’s 50-day moving average is $6.56. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.54 and a quick ratio of 3.95. The company has a market capitalization of $2.88 billion, a PE ratio of -902.10 and a beta of 0.71.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. CWA Asset Management Group LLC increased its position in shares of Orla Mining by 20.6% during the fourth quarter. CWA Asset Management Group LLC now owns 1,786,415 shares of the company’s stock valued at $9,897,000 after buying an additional 304,748 shares during the period. The Manufacturers Life Insurance Company grew its stake in Orla Mining by 67.2% during 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 in the last quarter. Barclays PLC increased its holdings in shares of Orla Mining by 86.5% in the third quarter. Barclays PLC now owns 47,177 shares of the company’s stock worth $189,000 after purchasing an additional 21,877 shares during the period. JPMorgan Chase & Co. raised its position in shares of Orla Mining by 262.3% in the third quarter. JPMorgan Chase & Co. now owns 284,408 shares of the company’s stock worth $1,138,000 after buying an additional 205,911 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Orla Mining by 11.9% during the third quarter. Geode Capital Management LLC now owns 114,628 shares of the company’s stock valued at $463,000 after buying an additional 12,159 shares during the period. Institutional investors 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.