Orla Mining Ltd. (NYSEAMERICAN:ORLA) Short Interest Update
by Renee Jackson · The Cerbat GemOrla Mining Ltd. (NYSEAMERICAN:ORLA – Get Free Report) saw a significant drop in short interest in the month of 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. Based on an average daily volume of 1,733,416 shares, the days-to-cover ratio is presently 4.1 days. Currently, 2.2% of the company’s stock are sold short. Currently, 2.2% of the company’s stock are sold short. Based on an average daily volume of 1,733,416 shares, the days-to-cover ratio is presently 4.1 days.
Orla Mining Stock Up 6.1%
ORLA stock traded up $0.91 during mid-day trading on Tuesday, hitting $15.78. 3,258,542 shares of the company were exchanged, compared to its average volume of 2,442,290. The firm has a fifty day simple moving average of $14.53 and a 200 day simple moving average of $12.19. The company has a market capitalization of $5.37 billion, a PE ratio of 24.78 and a beta of 0.30. Orla Mining has a twelve month low of $6.24 and a twelve month high of $20.05. The company has a current ratio of 1.07, a quick ratio of 0.88 and a debt-to-equity ratio of 0.66.
Orla Mining Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 10th. Shareholders of record on Monday, January 12th will be paid a dividend of $0.015 per share. The ex-dividend date is Monday, January 12th. This represents a $0.06 annualized dividend and a yield of 0.4%. Orla Mining’s dividend payout ratio is presently -599.40%.
Wall Street Analyst Weigh In
ORLA has been the topic of several analyst reports. National Bankshares initiated coverage on Orla Mining in a report on Monday, January 12th. They set an “outperform” rating on the stock. Natl Bk Canada raised shares of Orla Mining to a “strong-buy” rating in a research report on Monday, January 12th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Orla Mining in a research note on Tuesday, October 21st. BMO Capital Markets restated an “outperform” rating on shares of Orla Mining in a research note on Monday, January 26th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Orla Mining in a report on Monday, January 26th. Two research 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $27.00.
Get Our Latest Stock Analysis on Orla Mining
Institutional Investors Weigh In On Orla Mining
A number of institutional investors have recently made changes to their positions in ORLA. Millennium Management LLC boosted its holdings in Orla Mining by 992.0% in the third quarter. Millennium Management LLC now owns 9,066,678 shares of the company’s stock worth $97,814,000 after purchasing an additional 8,236,385 shares during the period. Vanguard Group Inc. lifted 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 during the last quarter. Jupiter Asset Management Ltd. lifted its position in shares of Orla Mining by 25,866.2% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 2,791,369 shares of the company’s stock worth $30,112,000 after buying an additional 2,780,619 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Orla Mining by 41.1% in 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 buying an additional 2,111,765 shares during the period. Finally, Mudita Advisors LLP bought a new stake in shares of Orla Mining during the 3rd quarter valued at about $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.