Van ECK Associates Corp Grows Stock Holdings in Orla Mining Ltd. $ORLA

Van ECK Associates Corp lifted its position in shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) by 279.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,391,604 shares of the company’s stock after acquiring an additional 14,287,477 shares during the period. Van ECK Associates Corp owned approximately 5.70% of Orla Mining worth $261,201,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tudor Investment Corp ET AL bought a new stake in shares of Orla Mining during the third quarter valued at approximately $776,000. Gabelli Funds LLC increased its position in shares of Orla Mining by 9.7% during the third quarter. Gabelli Funds LLC now owns 1,125,800 shares of the company’s stock valued at $12,159,000 after acquiring an additional 100,000 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Orla Mining during the third quarter valued at approximately $976,000. Forge First Asset Management Inc. bought a new stake in shares of Orla Mining during the third quarter valued at approximately $1,079,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Orla Mining by 41.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,251,539 shares of the company’s stock valued at $78,194,000 after acquiring an additional 2,111,765 shares in the last quarter. Institutional investors own 43.04% of the company’s stock.

Orla Mining Trading Up 2.8%

NYSEAMERICAN:ORLA opened at $10.65 on Friday. 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 12 month low of $9.16 and a 12 month high of $21.98. The company has a market cap of $3.68 billion, a PE ratio of 15.66 and a beta of 0.21. The company has a 50 day simple moving average of $13.98 and a two-hundred day simple moving average of $15.06.

Orla Mining Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 26th were given a dividend of $0.015 per share. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.6%. Orla Mining’s payout ratio is presently -599.40%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ORLA shares. TD Securities raised shares of Orla Mining from a “hold” rating to a “buy” rating in a research report on Wednesday, May 20th. ATB Cormark Capital Markets raised shares of Orla Mining from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 23rd. TD Cowen raised shares of Orla Mining from a “hold” rating to a “buy” rating in a research report on Wednesday, May 20th. Finally, Zacks Research raised shares of Orla Mining from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. Two equities research analysts have rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to MarketBeat, Orla Mining presently has an average rating of “Buy” and an average price target of $27.00.

Orla Mining 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.