Orla Mining (NYSEAMERICAN:ORLA) Shares Gap Down to $4.24

Orla Mining Ltd. (NYSEAMERICAN:ORLA) shares gapped down prior to trading on Tuesday . The stock had previously closed at $4.24, but opened at $4.14. Orla Mining shares last traded at $4.14, with a volume of 7,016 shares.

Analyst Ratings Changes

Separately, Scotiabank cut Orla Mining from a “sector outperform” rating to a “sector perform” rating in a report on Thursday, May 23rd.

Orla Mining Stock Down 1.7 %

The company has a quick ratio of 5.02, a current ratio of 5.89 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $1.30 billion, a PE ratio of -51.74 and a beta of 0.84.

Orla Mining (NYSEAMERICAN:ORLA) last released its quarterly earnings results on Monday, August 12th. The company reported $0.07 EPS for the quarter, meeting the consensus estimate of $0.07. The firm had revenue of $84.57 million for the quarter. Orla Mining had a negative net margin of 4.12% and a positive return on equity of 14.36%. Sell-side analysts anticipate that Orla Mining Ltd. will post 0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Orla Mining

Several institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. grew its stake in shares of Orla Mining by 6.3% in the fourth quarter. Franklin Resources Inc. now owns 7,972,555 shares of the company’s stock worth $25,994,000 after acquiring an additional 475,000 shares in the last quarter. CWA Asset Management Group LLC raised its holdings in Orla Mining by 85.0% in the fourth quarter. CWA Asset Management Group LLC now owns 2,367,033 shares of the company’s stock valued at $7,693,000 after acquiring an additional 1,087,892 shares in the last quarter. Goehring & Rozencwajg Associates LLC grew its holdings in Orla Mining by 16.3% during the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 1,295,214 shares of the company’s stock worth $4,969,000 after acquiring an additional 181,900 shares in the last quarter. Alberta Investment Management Corp grew its stake in shares of Orla Mining by 335.9% during the fourth quarter. Alberta Investment Management Corp now owns 458,600 shares of the company’s stock worth $1,502,000 after purchasing an additional 353,400 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in Orla Mining by 4.3% in the second quarter. American Century Companies Inc. now owns 412,400 shares of the company’s stock valued at $1,583,000 after buying an additional 17,100 shares during the last quarter. 43.04% of the stock is owned by institutional investors and hedge funds.

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.