Orla Mining (NYSEAMERICAN:ORLA) Trading Down 6% - Should You Sell?

Key Points

• Orla Mining's shares fell 6% to $10.91 on Tuesday, with trading volume down 19% compared to the average.
• Analysts maintain a positive outlook with an average rating of "Buy" and a consensus target price of $14.50.
• Institutional investors hold 43.04% of Orla Mining's stock, with several new positions and increased holdings reported in recent quarters.

Shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA - Get Free Report) traded down 6% on Tuesday . The stock traded as low as $10.56 and last traded at $10.91. 1,076,149 shares were traded during trading, a decline of 19% from the average session volume of 1,325,796 shares. The stock had previously closed at $11.60.

Wall Street Analysts Forecast Growth

Separately, CIBC restated an "outperform" rating on shares of Orla Mining in a research note on Tuesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $14.50.

Orla Mining Stock Performance

The firm has a market cap of $3.55 billion, a price-to-earnings ratio of 218.54 and a beta of 0.35. The company has a quick ratio of 0.66, a current ratio of 0.85 and a debt-to-equity ratio of 0.76. The stock has a fifty day moving average price of $10.58 and a 200-day moving average price of $9.91.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Salem Investment Counselors Inc. purchased a new stake in shares of Orla Mining in the second quarter valued at $30,000. IFP Advisors Inc lifted its position in shares of Orla Mining by 191.6% in the second quarter. IFP Advisors Inc now owns 3,981 shares of the company's stock valued at $40,000 after acquiring an additional 2,616 shares in the last quarter. TD Waterhouse Canada Inc. lifted its position in shares of Orla Mining by 50.0% in the second quarter. TD Waterhouse Canada Inc. now owns 5,368 shares of the company's stock valued at $53,000 after acquiring an additional 1,789 shares in the last quarter. Two Sigma Advisers LP purchased a new position in Orla Mining during the fourth quarter worth about $84,000. Finally, Banque Cantonale Vaudoise purchased a new position in Orla Mining during the first quarter worth about $86,000. Institutional investors and hedge funds own 43.04% of the company's stock.

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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