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

Orla Mining Ltd. (NYSEAMERICAN:ORLA) was the target of a significant growth in short interest during the month of February. As of February 27th, there was short interest totaling 5,988,210 shares, a growth of 18.7% from the February 12th total of 5,044,839 shares. Currently, 1.8% of the shares of the company are short sold. Based on an average daily trading volume, of 2,043,391 shares, the short-interest ratio is currently 2.9 days. Based on an average daily trading volume, of 2,043,391 shares, the short-interest ratio is currently 2.9 days. Currently, 1.8% of the shares of the company are short sold.

Analyst Ratings Changes

A number of research firms recently weighed in on ORLA. BMO Capital Markets reissued an “outperform” rating on shares of Orla Mining in a research report on Monday, January 26th. Scotiabank reiterated an “outperform” rating on shares of Orla Mining in a research report on Monday, January 26th. ATB Cormark Capital Markets raised Orla Mining from a “hold” rating to a “moderate buy” rating in a report on Monday, February 23rd. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Orla Mining in a research report on Wednesday, February 4th. Finally, National Bank Financial initiated coverage on Orla Mining in a research report on Monday, January 12th. They issued an “outperform” rating for the company. Three investment analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $27.00.

Orla Mining Price Performance

NYSEAMERICAN ORLA traded up $0.22 on Monday, reaching $16.54. The company’s stock had a trading volume of 1,862,235 shares, compared to its average volume of 1,892,099. Orla Mining has a 52 week low of $7.08 and a 52 week high of $21.98. The company has a current ratio of 1.07, a quick ratio of 0.88 and a debt-to-equity ratio of 0.66. The firm has a market cap of $5.70 billion, a PE ratio of 127.24 and a beta of 0.23. The business has a 50-day moving average price of $17.15 and a 200 day moving average price of $13.80.

Institutional Investors Weigh In On Orla Mining

Several large investors have recently modified their holdings of ORLA. Caitong International Asset Management Co. Ltd acquired a new position in shares of Orla Mining in the 4th quarter worth approximately $29,000. CIBC Private Wealth Group LLC bought a new stake in Orla Mining in the third quarter valued at $27,000. SBI Securities Co. Ltd. raised its stake in Orla Mining by 67.9% during the fourth quarter. SBI Securities Co. Ltd. now owns 4,672 shares of the company’s stock worth $63,000 after acquiring an additional 1,889 shares in the last quarter. TD Waterhouse Canada Inc. lifted its holdings in shares of Orla Mining by 197.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 5,313 shares of the company’s stock valued at $71,000 after acquiring an additional 3,524 shares during the period. Finally, Farther Finance Advisors LLC bought a new position in shares of Orla Mining during the third quarter valued at $58,000. 43.04% of the stock is currently owned by institutional investors.

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.