Van ECK Associates Corp Sells 370,777 Shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA)

Van ECK Associates Corp lowered its position in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA - Free Report) by 4.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,412,464 shares of the company's stock after selling 370,777 shares during the quarter. Van ECK Associates Corp owned approximately 2.31% of Orla Mining worth $29,650,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. International Assets Investment Management LLC bought a new position in shares of Orla Mining in the 3rd quarter valued at about $43,000. Allspring Global Investments Holdings LLC grew its holdings in Orla Mining by 50.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 450,000 shares of the company's stock worth $1,812,000 after acquiring an additional 150,000 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Orla Mining by 2.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 177,136 shares of the company's stock worth $679,000 after acquiring an additional 4,827 shares during the period. Toronto Dominion Bank grew its holdings in Orla Mining by 536.1% during the 2nd quarter. Toronto Dominion Bank now owns 27,563 shares of the company's stock worth $106,000 after acquiring an additional 23,230 shares during the period. Finally, Goehring & Rozencwajg Associates LLC lifted its stake in shares of Orla Mining by 16.3% in the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 1,295,214 shares of the company's stock valued at $4,969,000 after purchasing an additional 181,900 shares during the period. Institutional investors and hedge funds own 43.04% of the company's stock.

Orla Mining Trading Up 0.4 %

ORLA traded up $0.02 during trading on Tuesday, hitting $4.74. The company had a trading volume of 544,978 shares, compared to its average volume of 416,586. The stock has a market capitalization of $1.52 billion, a P/E ratio of -94.80 and a beta of 0.79. Orla Mining Ltd. has a one year low of $2.60 and a one year high of $5.16. The company has a current ratio of 5.89, a quick ratio of 5.02 and a debt-to-equity ratio of 0.18.

Orla Mining (NYSEAMERICAN:ORLA - Get Free Report) last issued its quarterly earnings results on Monday, August 12th. The company reported $0.07 EPS for the quarter, hitting the consensus estimate of $0.07. Orla Mining had a negative net margin of 4.12% and a positive return on equity of 14.36%. The firm had revenue of $84.57 million for the quarter. As a group, research analysts anticipate that Orla Mining Ltd. will post 0.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ORLA has been the topic of several recent analyst reports. Scotiabank lifted their price objective on shares of Orla Mining from $5.75 to $6.00 and gave the stock a "sector perform" rating in a research note on Friday, October 11th. Desjardins raised shares of Orla Mining to a "moderate buy" rating in a research report on Thursday, October 31st.

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.