Orla Mining (NYSEAMERICAN:ORLA) Shares Down 7.9% – Should You Sell?

Shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) traded down 7.9% during trading on Tuesday . The stock traded as low as $14.97 and last traded at $14.8670. 2,435,086 shares changed hands during trading, an increase of 4% from the average session volume of 2,331,496 shares. The stock had previously closed at $16.15.

Analyst Ratings Changes

Several research firms have recently issued reports on ORLA. National Bank Financial started coverage on shares of Orla Mining in a research report on Monday, January 12th. They issued an “outperform” rating for the company. ATB Cormark Capital Markets upgraded shares of Orla Mining from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 23rd. Scotiabank restated an “outperform” rating on shares of Orla Mining in a research report on Monday, January 26th. BMO Capital Markets restated an “outperform” rating on shares of Orla Mining in a research report on Monday, January 26th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Orla Mining in a report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $27.00.

Orla Mining Stock Performance

The company’s 50-day moving average price is $17.19 and its two-hundred day moving average price is $14.66. The company has a market cap of $5.13 billion, a P/E ratio of 57.47 and a beta of 0.37. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 0.52.

Hedge Funds Weigh In On Orla Mining

A number of institutional investors and hedge funds have recently bought and sold shares of ORLA. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Orla Mining in the 4th quarter valued at $29,000. CIBC Private Wealth Group LLC bought a new stake in Orla Mining during the 3rd quarter worth about $27,000. SBI Securities Co. Ltd. raised its holdings in Orla Mining by 67.9% during the 4th quarter. SBI Securities Co. Ltd. now owns 4,672 shares of the company’s stock worth $63,000 after purchasing an additional 1,889 shares during the last quarter. TD Waterhouse Canada Inc. increased its stake in shares of Orla Mining by 197.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 5,313 shares of the company’s stock valued at $71,000 after acquiring an additional 3,524 shares during the last quarter. Finally, Farther Finance Advisors LLC bought a new stake in shares of Orla Mining in the 3rd quarter valued at about $58,000. Institutional investors own 43.04% of the company’s stock.

About Orla Mining

Orla Mining is a Canada-based mineral exploration and development company focused on advancing gold and silver projects in the Americas. Its flagship asset is the Cerro Quema oxide gold-silver project in Panama, where the company holds approximately 13,000 hectares of mineral concessions. Through feasibility studies and pilot plant testing, Orla has demonstrated the potential of heap leach processing at Cerro Quema, positioning the asset for transition into construction and production phases.

In addition to Cerro Quema, Orla Mining expanded its portfolio in early 2023 with the acquisition of the Gold Springs project located along the Utah–Nevada border in the United States.