Short Interest in Orla Mining Ltd. (NYSEAMERICAN:ORLA) Decreases By 21.7%

Orla Mining Ltd. (NYSEAMERICAN:ORLA) was the target of a large decline in short interest during the month of January. As of January 30th, there was short interest totaling 5,569,604 shares, a decline of 21.7% from the January 15th total of 7,111,737 shares. Currently, 1.7% of the shares of the stock 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. 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 stock are short sold.

Analyst Ratings Changes

A number of brokerages have issued reports on ORLA. Royal Bank Of Canada restated an “outperform” rating on shares of Orla Mining in a research report on Tuesday, October 21st. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Orla Mining in a research note on Wednesday, February 4th. Scotiabank reaffirmed an “outperform” rating on shares of Orla Mining in a research note on Monday, January 26th. Natl Bk Canada upgraded Orla Mining to a “strong-buy” rating in a report on Monday, January 12th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Orla Mining in a report on Monday, January 26th. Three investment analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, Orla Mining has a consensus rating of “Buy” and an average price target of $27.00.

Hedge Funds Weigh In On Orla Mining

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

Orla Mining Trading Up 8.0%

Shares of ORLA traded up $1.29 on Friday, hitting $17.39. 1,399,070 shares of the stock traded hands, compared to its average volume of 2,538,476. Orla Mining has a 1 year low of $6.63 and a 1 year high of $20.05. The stock’s 50 day moving average is $15.05 and its two-hundred day moving average is $12.52. The firm 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 Announces Dividend

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

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.