Goehring & Rozencwajg Associates LLC Cuts Position in Orla Mining Ltd. (NYSEAMERICAN:ORLA)

Goehring & Rozencwajg Associates LLC reduced its position in Orla Mining Ltd. (NYSEAMERICAN:ORLA) by 1.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,367,031 shares of the company’s stock after selling 26,940 shares during the quarter. Orla Mining makes up approximately 1.5% of Goehring & Rozencwajg Associates LLC’s investment portfolio, making the stock its 27th biggest position. Goehring & Rozencwajg Associates LLC’s holdings in Orla Mining were worth $7,419,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. CWA Asset Management Group LLC increased its holdings in Orla Mining by 20.6% in the 4th quarter. CWA Asset Management Group LLC now owns 1,786,415 shares of the company’s stock valued at $9,897,000 after purchasing an additional 304,748 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Orla Mining by 50.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 450,000 shares of the company’s stock worth $1,812,000 after buying an additional 150,000 shares during the period. National Bank of Canada FI grew its stake in shares of Orla Mining by 21.4% in the third quarter. National Bank of Canada FI now owns 421,108 shares of the company’s stock valued at $1,687,000 after buying an additional 74,293 shares in the last quarter. D.A. Davidson & CO. purchased a new stake in shares of Orla Mining during the 3rd quarter valued at about $1,539,000. Finally, The Manufacturers Life Insurance Company lifted its position in Orla Mining by 67.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 296,097 shares of the company’s stock worth $1,192,000 after acquiring an additional 118,961 shares in the last quarter. Hedge funds and other institutional investors own 43.04% of the company’s stock.

Orla Mining Stock Up 1.8 %

Shares of ORLA opened at $7.22 on Friday. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of -721.28 and a beta of 0.71. The company has a current ratio of 4.54, a quick ratio of 3.95 and a debt-to-equity ratio of 0.12. Orla Mining Ltd. has a 52-week low of $3.16 and a 52-week high of $7.27.

Orla Mining (NYSEAMERICAN:ORLA) last posted its quarterly 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). The company had revenue of $99.31 million during the quarter. Orla Mining had a net margin of 1.42% and a return on equity of 17.04%. Equities analysts forecast that Orla Mining Ltd. will post 0.23 EPS for the current year.

Analysts Set New Price Targets

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

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.