Orla Mining (NYSEAMERICAN:ORLA) Trading Down 4.5% - Should You Sell?

Orla Mining Ltd. (NYSEAMERICAN:ORLA - Get Free Report)'s share price dropped 4.5% during trading on Friday . The company traded as low as $9.58 and last traded at $9.57. Approximately 298,525 shares were traded during trading, a decline of 65% from the average daily volume of 859,214 shares. The stock had previously closed at $10.02.

Analyst Ratings Changes

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

Orla Mining Price Performance

The company has a quick ratio of 0.62, a current ratio of 0.81 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of -954.00 and a beta of 0.38. The stock's 50-day simple moving average is $10.60 and its two-hundred day simple moving average is $7.72.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its holdings in shares of Orla Mining by 4.6% during the 1st quarter. Russell Investments Group Ltd. now owns 24,735 shares of the company's stock worth $231,000 after purchasing an additional 1,093 shares during the last quarter. Baldwin Wealth Partners LLC MA increased its stake in Orla Mining by 11.4% during the first quarter. Baldwin Wealth Partners LLC MA now owns 15,600 shares of the company's stock worth $146,000 after acquiring an additional 1,600 shares during the last quarter. Geode Capital Management LLC raised its holdings in Orla Mining by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 116,293 shares of the company's stock valued at $650,000 after buying an additional 1,665 shares during the period. Walleye Capital LLC grew its stake in shares of Orla Mining by 10.2% in the fourth quarter. Walleye Capital LLC now owns 19,128 shares of the company's stock valued at $106,000 after buying an additional 1,764 shares in the last quarter. Finally, Gotham Asset Management LLC increased its stake in Orla Mining by 11.8% during the 4th quarter. Gotham Asset Management LLC now owns 19,393 shares of the company's stock worth $107,000 after buying an additional 2,048 shares during the period. 43.04% of the stock is owned by institutional investors and hedge funds.

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.

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