Orla Mining Ltd. (NYSEAMERICAN:ORLA) Short Interest Update

Orla Mining Ltd. (NYSEAMERICAN:ORLA) saw a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 3,806,789 shares, a drop of 38.8% from the May 14th total of 6,219,025 shares. Currently, 1.1% of the shares of the stock are short sold. Based on an average daily volume of 3,169,743 shares, the days-to-cover ratio is currently 1.2 days.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Orla Mining from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. TD Cowen raised shares of Orla Mining from a “hold” rating to a “buy” rating in a research note on Wednesday, May 20th. ATB Cormark Capital Markets upgraded shares of Orla Mining from a “hold” rating to a “moderate buy” rating in a report on Monday, February 23rd. Finally, TD Securities upgraded shares of Orla Mining from a “hold” rating to a “buy” rating in a research note on Wednesday, May 20th. Two research analysts have rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. According to data from MarketBeat.com, Orla Mining presently has an average rating of “Buy” and an average price target of $27.00.

Institutional Investors Weigh In On Orla Mining

Several institutional investors have recently modified their holdings of ORLA. Sprott Inc. increased its position in shares of Orla Mining by 1.8% during the 4th quarter. Sprott Inc. now owns 45,822 shares of the company’s stock valued at $617,000 after purchasing an additional 799 shares during the last quarter. Parvin Asset Management LLC boosted its stake in Orla Mining by 1.2% during the fourth quarter. Parvin Asset Management LLC now owns 70,500 shares of the company’s stock worth $950,000 after buying an additional 825 shares during the period. Neuberger Berman Group LLC boosted its stake in Orla Mining by 13.9% during the third quarter. Neuberger Berman Group LLC now owns 13,374 shares of the company’s stock worth $144,000 after buying an additional 1,637 shares during the period. SBI Securities Co. Ltd. increased its position in Orla Mining by 67.9% during the fourth quarter. SBI Securities Co. Ltd. now owns 4,672 shares of the company’s stock valued at $63,000 after acquiring an additional 1,889 shares during the last quarter. Finally, Mariner LLC raised its stake in shares of Orla Mining by 15.3% in the fourth quarter. Mariner LLC now owns 14,929 shares of the company’s stock valued at $201,000 after acquiring an additional 1,976 shares during the period. 43.04% of the stock is owned by institutional investors.

Orla Mining Stock Performance

Shares of NYSEAMERICAN:ORLA opened at $11.57 on Wednesday. The firm has a fifty day simple moving average of $13.75 and a two-hundred day simple moving average of $15.05. Orla Mining has a 52 week low of $9.16 and a 52 week high of $21.98. The company has a quick ratio of 0.88, a current ratio of 1.06 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $4.00 billion, a P/E ratio of 17.01 and a beta of 0.21.

Orla Mining Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 26th were paid a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Tuesday, May 26th. Orla Mining’s payout ratio is presently -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.