Short Interest in Orla Mining Ltd. (NYSEAMERICAN:ORLA) Grows By 66.6%

Orla Mining Ltd. (NYSEAMERICAN:ORLA) saw a large increase in short interest during the month of December. As of December 31st, there was short interest totaling 8,491,393 shares, an increase of 66.6% from the December 15th total of 5,097,068 shares. Based on an average daily volume of 4,186,745 shares, the days-to-cover ratio is currently 2.0 days. Approximately 2.6% of the company’s stock are sold short. Approximately 2.6% of the company’s stock are sold short. Based on an average daily volume of 4,186,745 shares, the days-to-cover ratio is currently 2.0 days.

Orla Mining Trading Up 0.5%

Shares of Orla Mining stock opened at $14.73 on Friday. Orla Mining has a 52-week low of $5.52 and a 52-week high of $15.54. The firm has a market capitalization of $5.01 billion, a PE ratio of 113.32 and a beta of 0.30. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.07 and a quick ratio of 0.88. The company’s fifty day moving average price is $13.39 and its two-hundred day moving average price is $11.70.

Orla Mining Announces Dividend

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

Analyst Ratings Changes

Several research firms recently issued reports on ORLA. Scotiabank reaffirmed an “outperform” rating on shares of Orla Mining in a research note on Thursday, October 23rd. Royal Bank Of Canada restated an “outperform” rating on shares of Orla Mining in a report on Tuesday, October 21st. National Bankshares began coverage on shares of Orla Mining in a research report on Monday, January 12th. They issued an “outperform” rating on the stock. CIBC reaffirmed an “outperform” rating on shares of Orla Mining in a report on Monday, October 20th. Finally, Natl Bk Canada raised Orla Mining to a “strong-buy” rating in a research report on Monday, January 12th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $27.00.

Institutional Trading of Orla Mining

Large investors have recently bought and sold shares of the stock. Millennium Management LLC grew its stake in Orla Mining by 992.0% during the third quarter. Millennium Management LLC now owns 9,066,678 shares of the company’s stock worth $97,814,000 after buying an additional 8,236,385 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Orla Mining by 1,628.2% in the 3rd quarter. Vanguard Group Inc. now owns 3,254,056 shares of the company’s stock worth $35,095,000 after acquiring an additional 3,065,761 shares in the last quarter. Jupiter Asset Management Ltd. grew its position in Orla Mining by 25,866.2% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 2,791,369 shares of the company’s stock worth $30,112,000 after acquiring an additional 2,780,619 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Orla Mining by 41.1% during 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 acquiring an additional 2,111,765 shares during the last quarter. Finally, Mudita Advisors LLP acquired a new stake in Orla Mining during the 3rd quarter valued at $15,119,000. 43.04% of the stock is currently owned by institutional investors.

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.