Orla Mining (NYSEAMERICAN:ORLA) Shares Down 5.1% – Here’s What Happened

Shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) dropped 5.1% on Friday . The company traded as low as $11.78 and last traded at $11.72. Approximately 189,599 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 1,133,701 shares. The stock had previously closed at $12.35.

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.com, Orla Mining currently has a consensus rating of “Buy” and a consensus price target of $6.00.

Orla Mining Price Performance

The company has a debt-to-equity ratio of 0.12, a current ratio of 4.54 and a quick ratio of 3.95. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of -1,109.89 and a beta of 0.71. The stock’s 50 day simple moving average is $10.30 and its 200-day simple moving average is $7.11.

Institutional Investors Weigh In On Orla Mining

Several large investors have recently made changes to their positions in the company. FMR LLC lifted its position in Orla Mining by 17.3% during the 4th quarter. FMR LLC now owns 24,065,292 shares of the company’s stock worth $133,264,000 after buying an additional 3,553,481 shares in the last quarter. Franklin Resources Inc. lifted its position in Orla Mining by 0.4% during the 4th quarter. Franklin Resources Inc. now owns 7,578,812 shares of the company’s stock valued at $41,914,000 after purchasing an additional 31,700 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Orla Mining by 119.8% during 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 purchasing an additional 2,094,800 shares during the period. Amundi lifted its position in Orla Mining by 49.9% during the 1st quarter. Amundi now owns 3,711,381 shares of the company’s stock valued at $35,147,000 after purchasing an additional 1,235,692 shares during the period. Finally, CWA Asset Management Group LLC raised its position 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 acquiring an additional 1,131,625 shares during the period. Institutional investors 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.