Orla Mining (NYSEAMERICAN:ORLA) Shares Down 6.9% - What's Next?

Key Points

• Orla Mining Ltd.'s share price decreased by 6.9% to $9.59, with trading volume falling to 195,164 shares, an 85% decline from its average.
• Analysts maintain a consensus "Buy" rating for Orla Mining, with a price target of $14.50 despite the recent downturn.
• Institutional investors own 43.04% of Orla Mining, with several firms increasing their stakes recently, indicating continued interest in the company.

Orla Mining Ltd. (NYSEAMERICAN:ORLA - Get Free Report) was down 6.9% during trading on Tuesday . The stock traded as low as $9.43 and last traded at $9.59. Approximately 195,164 shares traded hands during trading, a decline of 85% from the average daily volume of 1,323,352 shares. The stock had previously closed at $10.30.

Analysts Set New Price Targets

Separately, CIBC reissued an "outperform" rating on shares of Orla Mining in a research report on Tuesday, July 15th. Two investment analysts have rated the stock with a hold rating, one has given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Orla Mining has a consensus rating of "Buy" and an average target price of $14.50.

Orla Mining Stock Up 0.2%

The firm has a 50-day moving average of $10.55 and a 200 day moving average of $9.23. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.62. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of 197.64 and a beta of 0.34.

Institutional Trading of Orla Mining

Several institutional investors and hedge funds have recently bought and sold shares of ORLA. Geode Capital Management LLC raised its stake in Orla Mining by 1.5% in the fourth 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. Russell Investments Group Ltd. bought a new stake in Orla Mining in the fourth quarter valued at approximately $131,000. Renaissance Technologies LLC raised its stake in Orla Mining by 103.1% in the fourth quarter. Renaissance Technologies LLC now owns 178,300 shares of the company's stock valued at $988,000 after buying an additional 90,500 shares during the period. Raymond James Financial Inc. bought a new stake in Orla Mining in the fourth quarter valued at approximately $173,000. Finally, Mariner LLC bought a new position in shares of Orla Mining during the fourth quarter worth approximately $58,000. 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.