Van ECK Associates Corp Has $39.98 Million Stock Position in Orla Mining Ltd. (NYSEAMERICAN:ORLA)

Van ECK Associates Corp trimmed its position in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA - Free Report) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,216,518 shares of the company's stock after selling 195,946 shares during the quarter. Van ECK Associates Corp owned 2.24% of Orla Mining worth $39,975,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its holdings in Orla Mining by 50.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 450,000 shares of the company's stock worth $1,812,000 after purchasing an additional 150,000 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Orla Mining during the third quarter worth about $43,000. CWA Asset Management Group LLC purchased a new stake in shares of Orla Mining in the third quarter valued at about $5,927,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Orla Mining in the third quarter valued at approximately $242,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of Orla Mining by 67.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 296,097 shares of the company's stock worth $1,192,000 after purchasing an additional 118,961 shares during the last quarter. Institutional investors and hedge funds own 43.04% of the company's stock.

Orla Mining Stock Performance

ORLA traded down $0.12 during trading on Monday, reaching $6.96. The stock had a trading volume of 816,932 shares, compared to its average volume of 601,218. Orla Mining Ltd. has a 1-year low of $3.16 and a 1-year high of $7.62. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of -695.30 and a beta of 0.71. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.54 and a quick ratio of 3.95.

Analysts Set New Price Targets

A number of brokerages have weighed in on ORLA. Scotiabank raised Orla Mining from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, November 27th. TD Cowen began coverage on Orla Mining in a research note on Tuesday, February 4th. They issued a "hold" rating on the stock. Desjardins raised shares of Orla Mining to a "moderate buy" rating in a research note on Thursday, October 31st. Finally, TD Securities raised shares of Orla Mining to a "hold" rating in a research report on Tuesday, February 4th. Two analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $6.13.

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.