Van ECK Associates Corp Decreases Position in Orla Mining Ltd. $ORLA

Van ECK Associates Corp reduced its position in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) by 65.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 5,104,127 shares of the company’s stock after selling 9,719,172 shares during the period. Van ECK Associates Corp’s holdings in Orla Mining were worth $55,122,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC purchased a new position in shares of Orla Mining in the third quarter valued at approximately $58,000. TD Waterhouse Canada Inc. increased its position 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. Osaic Holdings Inc. increased its position in shares of Orla Mining by 82.2% during the second quarter. Osaic Holdings Inc. now owns 10,161 shares of the company’s stock worth $102,000 after purchasing an additional 4,584 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in Orla Mining in the 2nd quarter valued at $108,000. Finally, State of Wyoming acquired a new position in Orla Mining in the 2nd quarter valued at $109,000. Institutional investors and hedge funds own 43.04% of the company’s stock.

Wall Street Analyst Weigh In

ORLA has been the topic of several recent research reports. Zacks Research raised shares of Orla Mining from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 11th. ATB Cormark Capital Markets upgraded shares of Orla Mining from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 23rd. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Orla Mining in a research note on Wednesday, February 4th. Scotiabank reaffirmed an “outperform” rating on shares of Orla Mining in a research note on Monday, January 26th. Finally, National Bank Financial assumed coverage on shares of Orla Mining in a research note on Monday, January 12th. They set an “outperform” rating for the company. Three analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $27.00.

Orla Mining Stock Up 1.6%

Shares of NYSEAMERICAN:ORLA opened at $18.27 on Wednesday. Orla Mining Ltd. has a 52-week low of $7.08 and a 52-week high of $21.98. The stock has a market cap of $6.29 billion, a P/E ratio of 140.55 and a beta of 0.23. The business has a fifty day moving average of $16.88 and a two-hundred day moving average of $13.63. The company has a quick ratio of 0.88, a current ratio of 1.07 and a debt-to-equity ratio of 0.66.

Orla Mining Company Profile

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.