Orla Mining (NYSEAMERICAN:ORLA) Trading Down 2.5% – Time to Sell?

Orla Mining Ltd. (NYSEAMERICAN:ORLA) dropped 2.5% during trading on Wednesday . The stock traded as low as $4.59 and last traded at $4.60. Approximately 123,270 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 410,556 shares. The stock had previously closed at $4.72.

Wall Street Analyst Weigh In

Separately, Scotiabank upped their target price on shares of Orla Mining from $5.75 to $6.00 and gave the company a “sector perform” rating in a research note on Friday, October 11th.

Orla Mining Stock Down 2.8 %

The company has a market capitalization of $1.47 billion, a PE ratio of -93.70 and a beta of 0.83. The company has a quick ratio of 5.02, a current ratio of 5.89 and a debt-to-equity ratio of 0.18.

Orla Mining (NYSEAMERICAN:ORLA) last announced its earnings results on Monday, August 12th. The company reported $0.07 EPS for the quarter, meeting analysts’ consensus estimates of $0.07. Orla Mining had a negative net margin of 4.12% and a positive return on equity of 14.36%. The business had revenue of $84.57 million during the quarter. As a group, research analysts predict that Orla Mining Ltd. will post 0.23 earnings per share for the current year.

Institutional Trading of Orla Mining

Hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC purchased a new position in shares of Orla Mining during the 2nd quarter valued at about $102,000. Toronto Dominion Bank lifted its holdings in Orla Mining by 536.1% during the second quarter. Toronto Dominion Bank now owns 27,563 shares of the company’s stock valued at $106,000 after purchasing an additional 23,230 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Orla Mining by 92.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,883 shares of the company’s stock worth $218,000 after purchasing an additional 27,315 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Orla Mining by 2.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 177,136 shares of the company’s stock valued at $679,000 after purchasing an additional 4,827 shares during the period. Finally, Edmond DE Rothschild Holding S.A. bought a new position in Orla Mining in the 1st quarter worth $893,000. 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.