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

Orla Mining Ltd. (NYSEAMERICAN:ORLA - Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $11.10, but opened at $9.80. Orla Mining shares last traded at $9.14, with a volume of 608,172 shares.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. TD Cowen assumed coverage on Orla Mining in a report on Tuesday, February 4th. They set a "hold" rating on the stock. Stifel Canada raised Orla Mining to a "strong-buy" rating in a report on Wednesday, March 19th. Finally, TD Securities raised Orla Mining to a "hold" rating in a report on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $6.00.

Orla Mining Price Performance

The company has a market cap of $2.93 billion, a price-to-earnings ratio of -909.09 and a beta of 0.71. The company has a fifty day moving average price of $9.82 and a two-hundred day moving average price of $6.71. The company has a current ratio of 4.54, a quick ratio of 3.95 and a debt-to-equity ratio of 0.12.

Institutional Trading of Orla Mining

Several institutional investors have recently bought and sold shares of ORLA. Barclays PLC boosted its stake in Orla Mining by 86.5% in the 3rd quarter. Barclays PLC now owns 47,177 shares of the company's stock valued at $189,000 after buying an additional 21,877 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Orla Mining by 262.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 284,408 shares of the company's stock valued at $1,138,000 after buying an additional 205,911 shares in the last quarter. Stratos Wealth Advisors LLC boosted its stake in Orla Mining by 39.4% in the 4th quarter. Stratos Wealth Advisors LLC now owns 50,185 shares of the company's stock valued at $278,000 after buying an additional 14,185 shares in the last quarter. Quattro Financial Advisors LLC boosted its stake in Orla Mining by 106.9% in the 4th quarter. Quattro Financial Advisors LLC now owns 118,615 shares of the company's stock valued at $707,000 after buying an additional 61,280 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Orla Mining by 0.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 452,000 shares of the company's stock valued at $2,500,000 after buying an additional 2,000 shares in the last quarter. Institutional investors and hedge funds 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.