Orla Mining (NYSEAMERICAN:ORLA) Shares Gap Up – Here’s What Happened

Shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) gapped up prior to trading on Monday . The stock had previously closed at $13.08, but opened at $14.16. Orla Mining shares last traded at $13.2960, with a volume of 682,373 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Scotiabank reissued an “outperform” rating on shares of Orla Mining in a report on Thursday, October 23rd. Royal Bank Of Canada reiterated an “outperform” rating on shares of Orla Mining in a research report on Tuesday, October 21st. Finally, CIBC reissued an “outperform” rating on shares of Orla Mining in a research report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Orla Mining currently has a consensus rating of “Moderate Buy” and an average target price of $27.00.

Orla Mining Stock Up 0.9%

The stock has a market capitalization of $4.61 billion, a P/E ratio of 104.24 and a beta of 0.30. The company has a current ratio of 1.07, a quick ratio of 0.88 and a debt-to-equity ratio of 0.66. The firm’s fifty day moving average is $11.91 and its 200-day moving average is $11.15.

Orla Mining Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 10th. Investors of record on Monday, January 12th will be issued a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, January 12th.

Institutional Trading of Orla Mining

Several large investors have recently made changes to their positions in ORLA. Millennium Management LLC grew its holdings in Orla Mining by 992.0% during the 3rd quarter. Millennium Management LLC now owns 9,066,678 shares of the company’s stock worth $97,814,000 after acquiring an additional 8,236,385 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Orla Mining by 1,628.2% during the third quarter. Vanguard Group Inc. now owns 3,254,056 shares of the company’s stock valued at $35,095,000 after purchasing an additional 3,065,761 shares during the last quarter. Jupiter Asset Management Ltd. increased its holdings in shares of Orla Mining by 25,866.2% in the third quarter. Jupiter Asset Management Ltd. now owns 2,791,369 shares of the company’s stock valued at $30,112,000 after purchasing an additional 2,780,619 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Orla Mining by 41.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,251,539 shares of the company’s stock worth $78,194,000 after purchasing an additional 2,111,765 shares during the last quarter. Finally, Mudita Advisors LLP bought a new position in Orla Mining in the 3rd quarter worth approximately $15,119,000. Institutional investors 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.