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

Orla Mining Ltd. (NYSEAMERICAN:ORLA)’s share price gapped down before the market opened 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 traded.

Analyst Ratings Changes

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

Orla Mining Stock Performance

The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -50.62 and a beta of 0.84. The company has a current ratio of 5.89, a quick ratio of 5.02 and a debt-to-equity ratio of 0.18.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Rathbones Group PLC increased its stake in shares of Orla Mining by 37.4% in the fourth quarter. Rathbones Group PLC now owns 20,950 shares of the company’s stock valued at $69,000 after buying an additional 5,700 shares during the period. Renaissance Technologies LLC bought a new position in shares of Orla Mining during the second quarter valued at $102,000. Toronto Dominion Bank raised its stake in shares of Orla Mining by 536.1% during the second quarter. Toronto Dominion Bank now owns 27,563 shares of the company’s stock valued at $106,000 after acquiring an additional 23,230 shares during the last quarter. Aigen Investment Management LP grew its stake in shares of Orla Mining by 133.5% in the fourth quarter. Aigen Investment Management LP now owns 35,525 shares of the company’s stock worth $116,000 after purchasing an additional 20,309 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Orla Mining by 92.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,883 shares of the company’s stock valued at $218,000 after purchasing an additional 27,315 shares during the period. 43.04% of the stock is currently owned by institutional investors and hedge funds.

Orla Mining Company Profile

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.