Van ECK Associates Corp grew its holdings in Orla Mining Ltd. (NYSEAMERICAN:ORLA) by 8.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,599,944 shares of the company’s stock after purchasing an additional 659,568 shares during the period. Van ECK Associates Corp’s holdings in Orla Mining were worth $35,515,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of ORLA. Goldman Sachs Group Inc. bought a new stake in Orla Mining during the 1st quarter worth $39,000. Rathbone Brothers plc bought a new stake in Orla Mining during the 1st quarter worth $57,000. Toronto Dominion Bank grew its position in Orla Mining by 20.6% during the 1st quarter. Toronto Dominion Bank now owns 15,690 shares of the company’s stock worth $58,000 after acquiring an additional 2,676 shares during the last quarter. Barclays PLC bought a new stake in Orla Mining during the 1st quarter worth $74,000. Finally, HighTower Advisors LLC bought a new stake in Orla Mining during the 2nd quarter worth $100,000. Institutional investors own 25.65% of the company’s stock.
A number of brokerages recently weighed in on ORLA. Zacks Investment Research upgraded Orla Mining from a “sell” rating to a “hold” rating in a research report on Wednesday, July 21st. TD Securities reduced their price objective on Orla Mining from C$8.00 to C$7.50 and set a “buy” rating on the stock in a research report on Monday, August 9th. Finally, Desjardins restated a “buy” rating on shares of Orla Mining in a research report on Thursday, May 20th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Orla Mining presently has an average rating of “Buy” and a consensus target price of $7.42.
Orla Mining Company Profile
Orla Mining Ltd. engages in the acquisition, exploration, development, and operation of mineral properties. Its project portfolio includes Cerro Quema in Panama and Camino Rojo in Mexico. The company was founded on May 31, 2007 and is headquartered in Vancouver, Canada.
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