Orla Mining (NYSEAMERICAN:ORLA) Stock Price Down 6.8% - What's Next?

Orla Mining Ltd. (NYSEAMERICAN:ORLA - Get Free Report) shares were down 6.8% during mid-day trading on Tuesday . The stock traded as low as $10.19 and last traded at $9.91. Approximately 86,274 shares traded hands during trading, a decline of 90% from the average daily volume of 879,879 shares. The stock had previously closed at $10.64.

Analyst Upgrades and Downgrades

Separately, Stifel Canada upgraded 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $6.00.

Orla Mining Trading Down 1.1%

The firm has a market cap of $3.43 billion, a PE ratio of -1,056.10 and a beta of 0.35. 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 business has a fifty day moving average price of $10.45 and a 200 day moving average price of $8.07.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ORLA. FMR LLC grew its stake in shares of Orla Mining by 17.3% in the 4th quarter. FMR LLC now owns 24,065,292 shares of the company's stock valued at $133,264,000 after purchasing an additional 3,553,481 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new stake in shares of Orla Mining in the 4th quarter valued at approximately $11,944,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Orla Mining by 119.8% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,843,000 shares of the company's stock valued at $35,898,000 after buying an additional 2,094,800 shares during the period. Amundi lifted its holdings in shares of Orla Mining by 49.9% in the 1st quarter. Amundi now owns 3,711,381 shares of the company's stock valued at $35,147,000 after buying an additional 1,235,692 shares during the period. Finally, CWA Asset Management Group LLC lifted its holdings in shares of Orla Mining by 63.3% in the 1st quarter. CWA Asset Management Group LLC now owns 2,918,040 shares of the company's stock valued at $27,284,000 after buying an additional 1,131,625 shares during the period. 43.04% of the stock is currently owned by hedge funds and other institutional investors.

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.