Van ECK Associates Corp Reduces Stake in Orla Mining Ltd. $ORLA

Van ECK Associates Corp lessened its holdings in Orla Mining Ltd. (NYSEAMERICAN:ORLA) by 65.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,104,127 shares of the company’s stock after selling 9,719,172 shares during the quarter. Van ECK Associates Corp owned about 1.51% of Orla Mining worth $55,122,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ORLA. Neuberger Berman Group LLC boosted its holdings in shares of Orla Mining by 13.9% in the 3rd quarter. Neuberger Berman Group LLC now owns 13,374 shares of the company’s stock valued at $144,000 after acquiring an additional 1,637 shares during the last quarter. TD Waterhouse Canada Inc. lifted its position in Orla Mining by 50.0% during the second quarter. TD Waterhouse Canada Inc. now owns 5,368 shares of the company’s stock valued at $53,000 after purchasing an additional 1,789 shares during the period. XML Financial LLC lifted its position in Orla Mining by 13.2% during the third quarter. XML Financial LLC now owns 27,800 shares of the company’s stock valued at $300,000 after purchasing an additional 3,250 shares during the period. Geode Capital Management LLC boosted its holdings in Orla Mining by 3.3% in the second quarter. Geode Capital Management LLC now owns 124,405 shares of the company’s stock valued at $1,255,000 after purchasing an additional 3,948 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its holdings in Orla Mining by 82.2% in the second quarter. Osaic Holdings Inc. now owns 10,161 shares of the company’s stock valued at $102,000 after purchasing an additional 4,584 shares during the last quarter. 43.04% of the stock is owned by hedge funds and other institutional investors.

Orla Mining Price Performance

Shares of NYSEAMERICAN ORLA opened at $18.27 on Wednesday. The firm has a market cap of $6.29 billion, a PE ratio of 140.55 and a beta of 0.23. The firm has a fifty day moving average of $16.88 and a 200 day moving average of $13.63. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.88 and a current ratio of 1.07. Orla Mining Ltd. has a one year low of $7.08 and a one year high of $21.98.

Wall Street Analysts Forecast Growth

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

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.