Orla Mining (NYSEAMERICAN:ORLA) Shares Gap Up to $4.09

Shares of Orla Mining Ltd. (NYSEAMERICAN:ORLAGet Rating) gapped up prior to trading on Thursday . The stock had previously closed at $4.09, but opened at $4.21. Orla Mining shares last traded at $4.22, with a volume of 1,330 shares trading hands.

A number of research analysts have weighed in on ORLA shares. Scotiabank raised their price objective on Orla Mining from C$6.75 to C$7.00 in a report on Tuesday, April 19th. Zacks Investment Research upgraded Orla Mining from a “sell” rating to a “hold” rating in a report on Wednesday, April 27th. Finally, TD Securities decreased their price objective on Orla Mining from C$8.00 to C$7.50 in a report on Friday, May 13th.

The company has a quick ratio of 1.28, a current ratio of 1.52 and a debt-to-equity ratio of 0.56. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 198.00 and a beta of 0.78.

Orla Mining (NYSEAMERICAN:ORLAGet Rating) last issued its earnings results on Friday, March 18th. The company reported ($0.02) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.02). The company had revenue of $4.09 million during the quarter. On average, analysts forecast that Orla Mining Ltd. will post 0.17 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of ORLA. Bank of America Corp DE increased its position in shares of Orla Mining by 13,718.1% during the 2nd quarter. Bank of America Corp DE now owns 105,985 shares of the company’s stock worth $437,000 after purchasing an additional 105,218 shares during the last quarter. Wells Fargo & Company MN acquired a new stake in shares of Orla Mining during the 2nd quarter worth about $1,240,000. Swiss National Bank increased its position in shares of Orla Mining by 4.1% during the 3rd quarter. Swiss National Bank now owns 317,500 shares of the company’s stock worth $1,043,000 after purchasing an additional 12,400 shares during the last quarter. TD Asset Management Inc. increased its position in shares of Orla Mining by 9.6% during the 3rd quarter. TD Asset Management Inc. now owns 144,630 shares of the company’s stock worth $477,000 after purchasing an additional 12,695 shares during the last quarter. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Orla Mining during the 3rd quarter worth about $48,000. 27.47% of the stock is owned by institutional investors and hedge funds.

About Orla Mining (NYSEAMERICAN:ORLA)

Orla Mining Ltd. acquires, explores for, and develops 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 163,129 hectares located in Zacatecas, Mexico; and Cerro Quema project totaling an area of 14,800 hectares located in the Azuero Peninsula, Panama.

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