Orla Mining Ltd. (NYSEAMERICAN:ORLA - Get Free Report)'s stock price gapped down prior to trading 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 changing hands.
Analysts Set New Price Targets
Separately, Stifel Canada raised Orla Mining to a "strong-buy" rating in a research note 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, the stock currently has an average rating of "Buy" and a consensus price target of $6.00.
Read Our Latest Stock Report on Orla Mining
Orla Mining Price Performance
The stock has a fifty day simple moving average of $10.60 and a 200-day simple moving average of $7.72. The company has a market capitalization of $3.11 billion, a PE ratio of -956.60 and a beta of 0.38. The company has a current ratio of 0.81, a quick ratio of 0.62 and a debt-to-equity ratio of 0.92.
Hedge Funds Weigh In On Orla Mining
Several hedge funds have recently made changes to their positions in ORLA. FMR LLC raised its position in Orla Mining by 17.3% in the 4th quarter. FMR LLC now owns 24,065,292 shares of the company's stock valued at $133,264,000 after purchasing an additional 3,553,481 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new position in Orla Mining in the fourth quarter valued at $11,944,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Orla Mining by 119.8% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,843,000 shares of the company's stock valued at $35,898,000 after buying an additional 2,094,800 shares during the last quarter. Amundi boosted its stake in shares of Orla Mining by 49.9% during the first quarter. Amundi now owns 3,711,381 shares of the company's stock worth $35,147,000 after buying an additional 1,235,692 shares during the period. Finally, CWA Asset Management Group LLC boosted its stake in shares of Orla Mining by 63.3% during the first quarter. CWA Asset Management Group LLC now owns 2,918,040 shares of the company's stock worth $27,284,000 after buying an additional 1,131,625 shares during the period. Hedge funds and other institutional investors own 43.04% of the company's stock.
Orla Mining Company Profile
(
Get Free Report)
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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