Institutional OwnershipJust thought I'd share something with everyone in ORA. I've been investing a while, and though I'm under water on ORA (I'm sure along with a lot of other people), I thought I'd point-out a key indicator why I have NO problems holding this stock right now.
Here's some current share information from Baystreet.ca. Pay particular attention to Institutional Ownership:
Price to Sales: 1.49----------------------VERY reasonable
Price to Book: 0.89-----------------------VERY cheap
Price to Tangible Book: 0.96------------VERY Cheap considering ORA potential
Price to Cash Flow: 77.10--------------High, but not abnormal for a junior
Price to Free Cash: 42.50--------------"" "" " "
Quick Ratio: 1.10--------The company is not going broke.
Current Ratio: 3.20
Institute Hold'gs: 72.60% (as of 01/09/11)
Bought Prev 3 Mo: 57.23 m
Sold Prev 3 Mo: 1.42 m
Total Held: 158.4 m
Institutions: 47
Institutional buying has out paced selling by a factor of 40.3, three months prior to September 1! ~36% of all institutional holdings were purchase in that time, where ORA share price was between $1.64 and $2.50. Don't forget Yamana holdings at ~$3.70.
In my opinion, considering all this information and the appointment of a new CEO, you're going to see ORA become the talk of "goldtown" in the coming months. I first started buying at $2.46, and am not at all worried I won't see a higher price than that for this company.
If you're also looking for another gold play with massive potential, consider RN.TO.
Hang in there, and don't let a computer algorithm chase you out of a good opportunity.
~BT