Orla Mining Ltd. (NYSEAMERICAN:ORLA) Short Interest Update

Orla Mining Ltd. (NYSEAMERICAN:ORLA) was the recipient of a significant drop in short interest during the month of January. As of January 30th, there was short interest totaling 5,569,604 shares, a drop of 21.7% from the January 15th total of 7,111,737 shares. Based on an average daily trading volume, of 3,250,515 shares, the days-to-cover ratio is currently 1.7 days. Currently, 1.7% of the shares of the company are short sold. Currently, 1.7% of the shares of the company are short sold. Based on an average daily trading volume, of 3,250,515 shares, the days-to-cover ratio is currently 1.7 days.

Orla Mining Price Performance

Shares of Orla Mining stock traded up $1.29 during trading on Friday, reaching $17.39. The company’s stock had a trading volume of 1,399,070 shares, compared to its average volume of 2,538,476. The business has a 50 day moving average price of $15.05 and a 200-day moving average price of $12.52. The company has a market capitalization of $5.99 billion, a P/E ratio of 133.78 and a beta of 0.30. The company has a quick ratio of 0.88, a current ratio of 1.07 and a debt-to-equity ratio of 0.66. Orla Mining has a 12-month low of $6.63 and a 12-month high of $20.05.

Orla Mining Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 10th. Stockholders of record on Monday, January 12th were issued a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, January 12th. Orla Mining’s dividend payout ratio (DPR) is currently -599.40%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC lifted its position in shares of Orla Mining by 45.8% during the 1st quarter. Millennium Management LLC now owns 594,177 shares of the company’s stock valued at $5,555,000 after acquiring an additional 186,714 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Orla Mining by 14.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,061,455 shares of the company’s stock worth $9,925,000 after acquiring an additional 131,577 shares during the period. IFP Advisors Inc increased its stake in Orla Mining by 191.6% in the 2nd quarter. IFP Advisors Inc now owns 3,981 shares of the company’s stock valued at $40,000 after purchasing an additional 2,616 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Orla Mining by 20.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 607,000 shares of the company’s stock worth $6,102,000 after purchasing an additional 103,000 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its position in Orla Mining by 174.0% during the second quarter. Ritholtz Wealth Management now owns 48,186 shares of the company’s stock worth $483,000 after purchasing an additional 30,598 shares in the last quarter. 43.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ORLA shares. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Orla Mining in a research report on Tuesday, October 21st. Natl Bk Canada upgraded Orla Mining to a “strong-buy” rating in a research note on Monday, January 12th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Orla Mining in a research report on Wednesday, February 4th. Zacks Research raised shares of Orla Mining from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Finally, National Bank Financial initiated coverage on shares of Orla Mining in a research report on Monday, January 12th. They set an “outperform” rating for the company. Three equities research analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $27.00.

About Orla Mining

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.