Orla Mining (NYSEAMERICAN:ORLA) Stock Price Down 2.7% - Here's Why

Orla Mining Ltd. (NYSEAMERICAN:ORLA - Get Free Report) was down 2.7% during trading on Wednesday . The company traded as low as $11.08 and last traded at $11.03. 87,490 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 754,661 shares. The stock had previously closed at $11.34.

Wall Street Analyst Weigh In

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

Orla Mining Price Performance

The company's 50-day moving average is $10.69 and its two-hundred day moving average is $7.56. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.81 and a quick ratio of 0.62. The firm has a market cap of $3.66 billion, a P/E ratio of -1,125.00 and a beta of 0.38.

Institutional Trading of Orla Mining

Several institutional investors have recently made changes to their positions in ORLA. Banque Cantonale Vaudoise bought a new position in Orla Mining in the 1st quarter worth about $86,000. Mariner LLC purchased a new stake in Orla Mining during the fourth quarter valued at about $58,000. Scotia Capital Inc. bought a new position in shares of Orla Mining during the fourth quarter valued at about $67,000. Plato Investment Management Ltd purchased a new position in shares of Orla Mining in the first quarter worth about $138,000. Finally, Two Sigma Advisers LP bought a new stake in Orla Mining in the fourth quarter valued at approximately $84,000. Institutional investors own 43.04% of the company's stock.

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.