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

Orla Mining Ltd. (NYSEAMERICAN:ORLA) was the recipient of a significant increase in short interest in February. As of February 27th, there was short interest totaling 5,988,210 shares, an increase of 18.7% from the February 12th total of 5,044,839 shares. Approximately 1.8% of the shares of the company are short sold. Based on an average trading volume of 2,043,391 shares, the short-interest ratio is currently 2.9 days. Based on an average trading volume of 2,043,391 shares, the short-interest ratio is currently 2.9 days. Approximately 1.8% of the shares of the company are short sold.

Orla Mining Trading Down 2.6%

Shares of ORLA traded down $0.43 during trading hours on Tuesday, reaching $16.11. 1,815,316 shares of the company traded hands, compared to its average volume of 2,176,977. Orla Mining has a 12 month low of $7.08 and a 12 month high of $21.98. The company has a quick ratio of 0.88, a current ratio of 1.07 and a debt-to-equity ratio of 0.66. The company’s fifty day moving average price is $17.15 and its two-hundred day moving average price is $13.80. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of 123.93 and a beta of 0.23.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ORLA shares. ATB Cormark Capital Markets raised Orla Mining from a “hold” rating to a “moderate buy” rating in a report on Monday, February 23rd. National Bank Financial initiated coverage on shares of Orla Mining in a research report on Monday, January 12th. They set an “outperform” rating for the company. BMO Capital Markets reissued an “outperform” rating on shares of Orla Mining in a research note on Monday, January 26th. Scotiabank reissued an “outperform” rating on shares of Orla Mining in a report on Monday, January 26th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Orla Mining in a research report on Wednesday, February 4th. Three research analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $27.00.

Hedge Funds Weigh In On Orla Mining

Several hedge funds and other institutional investors have recently bought and sold shares of ORLA. Sprott Inc. lifted its stake in shares of Orla Mining by 1.8% in the 4th quarter. Sprott Inc. now owns 45,822 shares of the company’s stock worth $617,000 after purchasing an additional 799 shares during the period. Parvin Asset Management LLC grew its position in Orla Mining by 1.2% during the fourth quarter. Parvin Asset Management LLC now owns 70,500 shares of the company’s stock valued at $950,000 after buying an additional 825 shares during the period. Neuberger Berman Group LLC grew its position in Orla Mining by 13.9% during the third quarter. Neuberger Berman Group LLC now owns 13,374 shares of the company’s stock valued at $144,000 after buying an additional 1,637 shares during the period. TD Waterhouse Canada Inc. increased its holdings in Orla Mining by 50.0% during the second quarter. TD Waterhouse Canada Inc. now owns 5,368 shares of the company’s stock valued at $53,000 after buying an additional 1,789 shares during the last quarter. Finally, SBI Securities Co. Ltd. increased its holdings 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 buying an additional 1,889 shares during the last quarter. Institutional investors own 43.04% of the company’s stock.

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.