Millennium Management LLC Reduces Stock Position in Orla Mining Ltd. (NYSEAMERICAN:ORLA)

Millennium Management LLC cut its position in Orla Mining Ltd. (NYSEAMERICAN:ORLA - Free Report) by 54.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 407,463 shares of the company's stock after selling 492,572 shares during the quarter. Millennium Management LLC owned approximately 0.13% of Orla Mining worth $2,256,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in Orla Mining by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 116,293 shares of the company's stock valued at $650,000 after acquiring an additional 1,665 shares during the period. Walleye Capital LLC grew its stake in shares of Orla Mining by 10.2% in the 4th quarter. Walleye Capital LLC now owns 19,128 shares of the company's stock valued at $106,000 after purchasing an additional 1,764 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Orla Mining by 0.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 452,000 shares of the company's stock valued at $2,500,000 after purchasing an additional 2,000 shares during the period. Gotham Asset Management LLC increased its holdings in shares of Orla Mining by 11.8% in the fourth quarter. Gotham Asset Management LLC now owns 19,393 shares of the company's stock valued at $107,000 after purchasing an additional 2,048 shares during the period. Finally, D.A. Davidson & CO. raised its stake in shares of 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 during the last quarter. Hedge funds and other institutional investors own 43.04% of the company's stock.

Orla Mining Stock Performance

Shares of ORLA stock traded up $0.22 during trading hours on Tuesday, reaching $11.18. 759,268 shares of the company's stock were exchanged, compared to its average volume of 715,434. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.54 and a quick ratio of 3.95. The company's 50 day moving average is $10.12 and its two-hundred day moving average is $6.98. The company has a market cap of $3.60 billion, a P/E ratio of -1,116.88 and a beta of 0.71. Orla Mining Ltd. has a 1 year low of $3.24 and a 1 year high of $11.95.

Wall Street Analyst Weigh In

ORLA has been the topic of a number of analyst reports. Stifel Canada upgraded shares of Orla Mining to a "strong-buy" rating in a research report on Wednesday, March 19th. TD Securities upgraded shares of Orla Mining to a "hold" rating in a research note on Tuesday, February 4th. Finally, TD Cowen assumed coverage on shares of Orla Mining in a report on Tuesday, February 4th. They issued a "hold" rating on the stock. Two research analysts have rated the stock with a hold rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Orla Mining has a consensus rating of "Buy" and an average price target of $6.00.

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.