Orla Mining (NYSEAMERICAN:ORLA) Trading Down 6.9% - Time to Sell?

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)'s share price fell 6.9% on Tuesday . The stock traded as low as $9.43 and last traded at $9.59. 195,164 shares were traded during trading, a decline of 85% from the average session volume of 1,323,352 shares. The stock had previously closed at $10.30.

Analyst Ratings Changes

Separately, CIBC reaffirmed an "outperform" rating on shares of Orla Mining in a research note on Tuesday, July 15th. Two investment analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $14.50.

Orla Mining Stock Down 7.0%

The company's fifty day simple moving average is $10.68 and its 200-day simple moving average is $9.12. 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 capitalization of $3.12 billion, a PE ratio of -957.60 and a beta of 0.34.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ORLA. Salem Investment Counselors Inc. purchased a new stake in shares of Orla Mining during the second quarter worth about $30,000. IFP Advisors Inc increased its stake in shares of Orla Mining by 191.6% during the second quarter. IFP Advisors Inc now owns 3,981 shares of the company's stock worth $40,000 after purchasing an additional 2,616 shares in the last quarter. TD Waterhouse Canada Inc. increased its stake in shares of Orla Mining by 50.0% during the second quarter. TD Waterhouse Canada Inc. now owns 5,368 shares of the company's stock worth $53,000 after purchasing an additional 1,789 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of Orla Mining during the first quarter worth about $86,000. Finally, 111 Capital purchased a new stake in shares of Orla Mining during the second quarter worth about $102,000. 43.04% of the stock is currently owned by institutional investors and hedge funds.

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.

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