Orla Mining Ltd. (NYSEAMERICAN:ORLA - Get Free Report)'s stock price dropped 5.9% during mid-day trading on Tuesday . The stock traded as low as $9.58 and last traded at $9.37. Approximately 119,089 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 1,319,816 shares. The stock had previously closed at $9.96.
Wall Street Analyst Weigh In
Separately, CIBC reissued an "outperform" rating on shares of Orla Mining in a report on Tuesday, July 15th. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $14.50.
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Orla Mining Stock Performance
The company has a market cap of $3.28 billion, a P/E ratio of -1,009.00 and a beta of 0.34. The firm has a 50 day moving average of $10.70 and a 200-day moving average of $9.06. The company has a quick ratio of 0.62, a current ratio of 0.81 and a debt-to-equity ratio of 0.92.
Institutional Trading of Orla Mining
Several hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC lifted its holdings in shares of Orla Mining by 207.7% during the 2nd quarter. SG Americas Securities LLC now owns 33,604 shares of the company's stock valued at $337,000 after purchasing an additional 22,683 shares during the last quarter. Fiera Capital Corp acquired a new position in shares of Orla Mining in the 2nd quarter valued at $6,594,000. Geode Capital Management LLC increased its position in shares of Orla Mining by 3.3% in the 2nd quarter. Geode Capital Management LLC now owns 124,405 shares of the company's stock valued at $1,255,000 after acquiring an additional 3,948 shares during the period. Jupiter Asset Management Ltd. acquired a new position in shares of Orla Mining in the 2nd quarter valued at $108,000. Finally, Profund Advisors LLC acquired a new position in shares of Orla Mining in the 2nd quarter valued at $176,000. Hedge funds and other institutional investors own 43.04% of the company's stock.
About Orla Mining
(
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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.
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