Orla Mining (NYSEAMERICAN:ORLA) Shares Down 5.1% - Should You Sell?

Orla Mining Ltd. (NYSEAMERICAN:ORLA - Get Free Report) shares fell 5.1% during trading on Friday . The stock traded as low as $11.78 and last traded at $11.72. 189,599 shares traded hands during trading, a decline of 83% from the average session volume of 1,133,701 shares. The stock had previously closed at $12.35.

Analysts Set New Price Targets

Separately, Stifel Canada upgraded shares of Orla Mining to a "strong-buy" rating in a research note on Wednesday, March 19th. Two equities research analysts have rated the stock with a hold rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $6.00.

Orla Mining Stock Down 10.0%

The firm's 50-day simple moving average is $10.30 and its 200 day simple moving average is $7.11. The company has a market cap of $3.58 billion, a P/E ratio of -1,109.89 and a beta of 0.71. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.95 and a current ratio of 4.54.

Institutional Investors Weigh In On Orla Mining

Several hedge funds have recently bought and sold shares of ORLA. Banque Cantonale Vaudoise bought a new stake in Orla Mining during the first quarter worth $86,000. Mariner LLC bought a new stake in Orla Mining during the fourth quarter worth $58,000. Scotia Capital Inc. bought a new stake in Orla Mining during the fourth quarter worth $67,000. Plato Investment Management Ltd bought a new stake in Orla Mining during the first quarter worth $138,000. Finally, Two Sigma Advisers LP bought a new stake in Orla Mining during the fourth quarter worth $84,000. 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.