Van ECK Associates Corp Purchases Shares of 17,749,074 Orla Mining Ltd. $ORLA

Van ECK Associates Corp acquired a new position in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 17,749,074 shares of the company’s stock, valued at approximately $173,781,000. Van ECK Associates Corp owned 5.13% of Orla Mining as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ORLA. Millennium Management LLC raised its stake in shares of Orla Mining by 992.0% in the 3rd quarter. Millennium Management LLC now owns 9,066,678 shares of the company’s stock valued at $97,814,000 after acquiring an additional 8,236,385 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Orla Mining during the 2nd quarter worth $74,238,000. Vanguard Group Inc. boosted its position in Orla Mining by 152.1% during the 4th quarter. Vanguard Group Inc. now owns 8,202,861 shares of the company’s stock worth $110,320,000 after purchasing an additional 4,948,805 shares during the period. Invesco Ltd. increased its holdings in Orla Mining by 994.7% in the 4th quarter. Invesco Ltd. now owns 3,539,392 shares of the company’s stock valued at $47,676,000 after purchasing an additional 3,216,068 shares in the last quarter. Finally, Norges Bank acquired a new stake in Orla Mining in the 4th quarter valued at $34,756,000. Institutional investors and hedge funds own 43.04% of the company’s stock.

Orla Mining Price Performance

Shares of ORLA stock opened at $9.44 on Friday. The company has a market capitalization of $3.27 billion, a PE ratio of 13.88 and a beta of 0.28. The firm has a fifty day simple moving average of $9.47 and a 200-day simple moving average of $13.15. The company has a current ratio of 1.06, a quick ratio of 0.88 and a debt-to-equity ratio of 0.39. Orla Mining Ltd. has a twelve month low of $8.43 and a twelve month high of $21.98.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ORLA. TD Cowen upgraded Orla Mining from a “hold” rating to a “buy” rating in a research note on Wednesday, May 20th. TD Securities upgraded Orla Mining from a “hold” rating to a “buy” rating in a research note on Wednesday, May 20th. Finally, Zacks Research downgraded Orla Mining from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target 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.