Van ECK Associates Corp Sells 195,946 Shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA)

Van ECK Associates Corp trimmed its stake in Orla Mining Ltd. (NYSEAMERICAN:ORLA) by 2.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,216,518 shares of the company’s stock after selling 195,946 shares during the quarter. Van ECK Associates Corp owned approximately 2.24% of Orla Mining worth $39,975,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ORLA. International Assets Investment Management LLC acquired a new position in Orla Mining in the 3rd quarter valued at $43,000. Kitching Partners LLC bought a new stake in Orla Mining during the 3rd quarter worth $48,000. Walleye Capital LLC bought a new stake in Orla Mining during the 3rd quarter worth $69,000. DF Dent & Co. Inc. bought a new stake in Orla Mining during the 3rd quarter worth $80,000. Finally, Sanctuary Advisors LLC bought a new stake in Orla Mining during the 3rd quarter worth $90,000. 43.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Desjardins upgraded Orla Mining to a “moderate buy” rating in a report on Thursday, October 31st. TD Securities raised shares of Orla Mining to a “hold” rating in a research report on Tuesday, February 4th. Scotiabank upgraded shares of Orla Mining from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 27th. Finally, TD Cowen began coverage on Orla Mining in a research report on Tuesday, February 4th. They set a “hold” rating for the company. Two investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $6.13.

Orla Mining Price Performance

ORLA stock opened at $7.08 on Friday. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of -707.29 and a beta of 0.71. Orla Mining Ltd. has a one year low of $3.16 and a one year high of $7.62. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.54 and a quick ratio of 3.95.

Orla Mining (NYSEAMERICAN:ORLA) last announced its earnings results on Tuesday, November 12th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). Orla Mining had a return on equity of 17.04% and a net margin of 1.42%. The company had revenue of $99.31 million during the quarter. As a group, sell-side analysts expect that Orla Mining Ltd. will post 0.23 EPS for the current fiscal year.

Orla Mining 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.