Orla Mining Ltd. (NYSEAMERICAN:ORLA - Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $11.81, but opened at $10.49. Orla Mining shares last traded at $10.07, with a volume of 1,619,505 shares trading hands.
Wall Street Analyst Weigh In
Separately, CIBC reaffirmed an "outperform" rating on shares of Orla Mining in a research report on Tuesday, July 15th. Two equities research analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $14.50.
Get Our Latest Stock Report on Orla Mining
Orla Mining Stock Down 4.6%
The company's fifty day simple moving average is $10.77 and its 200 day simple moving average is $8.75. The company has a current ratio of 0.81, a quick ratio of 0.62 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $3.24 billion, a P/E ratio of -996.00 and a beta of 0.35.
Hedge Funds Weigh In On Orla Mining
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. bought a new position in Orla Mining in the second quarter worth about $30,000. IFP Advisors Inc increased its stake in shares of Orla Mining by 191.6% during the second quarter. IFP Advisors Inc now owns 3,981 shares of the company's stock worth $40,000 after purchasing an additional 2,616 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of Orla Mining during the first quarter worth approximately $86,000. 111 Capital purchased a new stake in shares of Orla Mining during the second quarter worth approximately $102,000. Finally, Mariner LLC purchased a new stake in shares of Orla Mining during the fourth quarter worth $58,000. 43.04% of the stock is owned by institutional investors.
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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