Orla Mining Ltd. (NYSEAMERICAN:ORLA) Sees Large Decrease in Short Interest

Orla Mining Ltd. (NYSEAMERICAN:ORLA) saw a large decline in short interest in the month of January. As of January 15th, there was short interest totaling 7,111,737 shares, a decline of 16.2% from the December 31st total of 8,491,393 shares. Based on an average daily trading volume, of 1,733,416 shares, the days-to-cover ratio is currently 4.1 days. Currently, 2.2% of the company’s shares are short sold. Currently, 2.2% of the company’s shares are short sold. Based on an average daily trading volume, of 1,733,416 shares, the days-to-cover ratio is currently 4.1 days.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ORLA shares. National Bankshares began coverage on Orla Mining in a research report on Monday, January 12th. They issued an “outperform” rating for the company. BMO Capital Markets restated an “outperform” rating on shares of Orla Mining in a research note on Monday, January 26th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Orla Mining in a research report on Tuesday, October 21st. CIBC reiterated an “outperform” rating on shares of Orla Mining in a research report on Monday, October 20th. Finally, Scotiabank reissued an “outperform” rating on shares of Orla Mining in a report on Monday, January 26th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $27.00.

Orla Mining Stock Up 0.2%

Shares of ORLA traded up $0.03 during midday trading on Monday, reaching $15.12. The stock had a trading volume of 848,498 shares, compared to its average volume of 2,407,415. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.07 and a quick ratio of 0.88. Orla Mining has a 1-year low of $6.02 and a 1-year high of $20.05. The company’s fifty day simple moving average is $14.48 and its two-hundred day simple moving average is $12.17. The company has a market cap of $5.14 billion, a price-to-earnings ratio of 116.32 and a beta of 0.30.

Orla Mining Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 10th. Shareholders of record on Monday, January 12th will be given a $0.015 dividend. This represents a $0.06 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, January 12th. Orla Mining’s dividend payout ratio is presently -599.40%.

Institutional Trading of Orla Mining

Institutional investors have recently made changes to their positions in the business. Millennium Management LLC boosted its stake in Orla Mining by 992.0% in the 3rd quarter. Millennium Management LLC now owns 9,066,678 shares of the company’s stock worth $97,814,000 after purchasing an additional 8,236,385 shares during the period. Vanguard Group Inc. lifted its stake in Orla Mining by 152.1% during the fourth quarter. Vanguard Group Inc. now owns 8,202,861 shares of the company’s stock worth $110,320,000 after purchasing an additional 4,948,805 shares during the last quarter. Franklin Resources Inc. grew its position in Orla Mining by 18.3% during the third quarter. Franklin Resources Inc. now owns 7,611,924 shares of the company’s stock valued at $82,079,000 after acquiring an additional 1,178,690 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Orla Mining by 41.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,251,539 shares of the company’s stock worth $78,194,000 after purchasing an additional 2,111,765 shares during the period. Finally, Amundi increased its holdings in shares of Orla Mining by 35.5% in the third quarter. Amundi now owns 4,721,047 shares of the company’s stock worth $54,481,000 after buying an additional 1,237,832 shares during the period. 43.04% of the stock is currently owned by institutional investors and hedge funds.

Orla Mining Company 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.