Holderness Investments Co. Cuts Holdings in Orla Mining Ltd. (NYSEAMERICAN:ORLA)

Holderness Investments Co. lowered its holdings in Orla Mining Ltd. (NYSEAMERICAN:ORLA) by 34.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 10,841 shares of the company’s stock after selling 5,579 shares during the quarter. Holderness Investments Co.’s holdings in Orla Mining were worth $60,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC boosted its stake in shares of Orla Mining by 0.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 452,000 shares of the company’s stock worth $2,500,000 after acquiring an additional 2,000 shares in the last quarter. D.A. Davidson & CO. boosted its position in Orla Mining by 2.0% during the fourth quarter. D.A. Davidson & CO. now owns 392,364 shares of the company’s stock worth $2,174,000 after purchasing an additional 7,667 shares in the last quarter. Kitching Partners LLC purchased a new position in shares of Orla Mining in the third quarter valued at $48,000. Geode Capital Management LLC raised its stake in shares of Orla Mining by 11.9% during the 3rd quarter. Geode Capital Management LLC now owns 114,628 shares of the company’s stock worth $463,000 after buying an additional 12,159 shares during the last quarter. Finally, Stratos Wealth Advisors LLC boosted its position in shares of Orla Mining by 39.4% in the 4th quarter. Stratos Wealth Advisors LLC now owns 50,185 shares of the company’s stock worth $278,000 after buying an additional 14,185 shares in the last quarter. 43.04% of the stock is currently owned by hedge funds and other institutional investors.

Orla Mining Stock Performance

Shares of NYSEAMERICAN ORLA opened at $8.84 on Friday. Orla Mining Ltd. has a 1 year low of $3.24 and a 1 year high of $9.62. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of -883.12 and a beta of 0.71. The stock’s 50 day moving average price is $6.84. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.95 and a current ratio of 4.54.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ORLA shares. TD Cowen began coverage on shares of Orla Mining in a research report on Tuesday, February 4th. They set a “hold” rating for the company. Stifel Canada raised Orla Mining to a “strong-buy” rating in a research note on Wednesday. Scotiabank raised Orla Mining from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 27th. Finally, TD Securities upgraded Orla Mining to a “hold” rating in a research report on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $6.13.

About Orla Mining

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.