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

Orla Mining Ltd. (NYSEAMERICAN:ORLA - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $10.38, but opened at $10.01. Orla Mining shares last traded at $10.17, with a volume of 434,714 shares traded.

Analysts Set New Price Targets

Separately, Stifel Canada raised Orla Mining to a "strong-buy" rating in a research report on Wednesday, March 19th. Two investment analysts have rated the stock with a hold rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Orla Mining presently has a consensus rating of "Buy" and an average price target of $6.00.

Orla Mining Stock Performance

The company has a 50 day simple moving average of $10.67 and a 200-day simple moving average of $7.63. The stock has a market cap of $3.34 billion, a P/E ratio of -1,026.00 and a beta of 0.38. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.81 and a quick ratio of 0.62.

Institutional Investors Weigh In On Orla Mining

Institutional investors and hedge funds have recently bought and sold shares of the business. Sprott Inc. increased its position in shares of Orla Mining by 23.1% during the fourth quarter. Sprott Inc. now owns 281,001 shares of the company's stock valued at $1,556,000 after buying an additional 52,751 shares during the period. U S Global Investors Inc. purchased a new position in shares of Orla Mining during the 4th quarter worth approximately $1,063,000. Aigen Investment Management LP bought a new position in shares of Orla Mining in the 4th quarter worth approximately $129,000. Raymond James Financial Inc. purchased a new position in shares of Orla Mining in the 4th quarter valued at approximately $173,000. Finally, Amundi lifted its stake in shares of Orla Mining by 6.7% in the 4th quarter. Amundi now owns 2,475,689 shares of the company's stock valued at $14,483,000 after purchasing an additional 155,200 shares during the period. Hedge funds and other 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.

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