Short Interest in Orla Mining Ltd. (NYSEAMERICAN:ORLA) Drops By 16.2%

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

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ORLA. Scotiabank reaffirmed an “outperform” rating on shares of Orla Mining in a research note on Monday, January 26th. National Bankshares assumed coverage on Orla Mining in a research report on Monday, January 12th. They set an “outperform” rating on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Orla Mining in a research report on Tuesday, October 21st. CIBC restated an “outperform” rating on shares of Orla Mining in a research note on Monday, October 20th. Finally, Natl Bk Canada upgraded Orla Mining to a “strong-buy” rating in a research note on Monday, January 12th. Two 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’s stock. According to data from MarketBeat, Orla Mining has an average rating of “Buy” and an average price target of $27.00.

Orla Mining Trading Up 0.1%

NYSEAMERICAN ORLA traded up $0.01 during trading hours on Monday, hitting $15.10. 848,498 shares of the company were exchanged, compared to its average volume of 2,407,415. Orla Mining has a 52 week low of $6.02 and a 52 week high of $20.05. The stock has a 50-day moving average price of $14.48 and a 200 day moving average price of $12.17. The stock has a market cap of $5.14 billion, a PE ratio of 116.32 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 Announces Dividend

The business 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 dividend of $0.015 per share. 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 payout ratio is currently -599.40%.

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.