Orla Mining (NYSEAMERICAN:ORLA) Shares Down 3.8% - Time to Sell?

Key Points

• Orla Mining Ltd. shares declined by 3.8% during trading, closing at $11.05 after reaching a low of $10.99, with a trading volume significantly below the average.
• Despite the recent drop, analysts maintain a consensus rating of "Buy," with two analysts rating it as a Strong Buy and an average target price of $14.50.
• Institutional investors have increased their stakes, with notable investments from firms such as Deutsche Bank AG, which boosted its holding by 201.5% in the last quarter.

Orla Mining Ltd. (NYSEAMERICAN:ORLA - Get Free Report) fell 3.8% on Thursday . The company traded as low as $10.99 and last traded at $11.05. 433,593 shares traded hands during trading, a decline of 69% from the average session volume of 1,396,284 shares. The stock had previously closed at $11.49.

Wall Street Analyst Weigh In

Separately, CIBC reiterated an "outperform" rating on shares of Orla Mining in a report on Tuesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $14.50.

Orla Mining Price Performance

The business's 50 day moving average is $10.76 and its two-hundred day moving average is $10.26. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.66 and a current ratio of 0.85. The firm has a market capitalization of $3.54 billion, a PE ratio of 217.24 and a beta of 0.35.

Hedge Funds Weigh In On Orla Mining

Large investors have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. grew its stake in Orla Mining by 33.7% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,139,774 shares of the company's stock valued at $51,667,000 after acquiring an additional 1,296,774 shares in the last quarter. Amundi grew its position in shares of Orla Mining by 49.9% during the 1st quarter. Amundi now owns 3,711,381 shares of the company's stock valued at $35,147,000 after purchasing an additional 1,235,692 shares in the last quarter. CWA Asset Management Group LLC increased its holdings in shares of Orla Mining by 63.3% in the first quarter. CWA Asset Management Group LLC now owns 2,918,040 shares of the company's stock worth $27,284,000 after purchasing an additional 1,131,625 shares during the period. TD Asset Management Inc raised its position in shares of Orla Mining by 15.7% in the first quarter. TD Asset Management Inc now owns 2,780,946 shares of the company's stock worth $25,969,000 after buying an additional 378,015 shares in the last quarter. Finally, Goehring & Rozencwajg Associates LLC boosted its stake in Orla Mining by 2.2% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 1,397,753 shares of the company's stock valued at $12,951,000 after buying an additional 30,722 shares during the period. 43.04% of the stock is currently owned by 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.