Orla Mining (NYSEAMERICAN:ORLA) Shares Gap Up – Should You Buy?

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $4.45, but opened at $4.62. Orla Mining shares last traded at $4.71, with a volume of 64,787 shares trading hands.

Analysts Set New Price Targets

A number of analysts recently issued reports on ORLA shares. Desjardins raised Orla Mining to a “moderate buy” rating in a research report on Thursday, October 31st. Scotiabank boosted their price target on shares of Orla Mining from $5.75 to $6.00 and gave the company a “sector perform” rating in a research note on Friday, October 11th.

Orla Mining Stock Up 4.7 %

The company has a quick ratio of 3.95, a current ratio of 4.54 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.50 billion, a price-to-earnings ratio of -465.53 and a beta of 0.79.

Institutional Investors Weigh In On Orla Mining

Several large investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC purchased a new stake in Orla Mining during the 3rd quarter worth about $43,000. Kitching Partners LLC acquired a new position in shares of Orla Mining during the third quarter worth about $48,000. Walleye Capital LLC purchased a new stake in shares of Orla Mining during the third quarter worth approximately $69,000. DF Dent & Co. Inc. acquired a new stake in Orla Mining in the third quarter valued at approximately $80,000. Finally, Sanctuary Advisors LLC purchased a new position in Orla Mining in the third quarter worth approximately $90,000. 43.04% of the stock is owned by hedge funds and other institutional investors.

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.