Desjardins Issues Negative Forecast for Orla Mining Earnings

Orla Mining Ltd. (NYSEAMERICAN:ORLA) – Desjardins decreased their FY2024 earnings per share (EPS) estimates for shares of Orla Mining in a report released on Tuesday, November 12th. Desjardins analyst A. Carson now anticipates that the company will post earnings of $0.22 per share for the year, down from their prior forecast of $0.24. Desjardins has a “Moderate Buy” rating on the stock. The consensus estimate for Orla Mining’s current full-year earnings is $0.24 per share. Desjardins also issued estimates for Orla Mining’s FY2025 earnings at $0.26 EPS.

Orla Mining (NYSEAMERICAN:ORLA) last released its quarterly earnings results on Monday, August 12th. The company reported $0.07 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.07. Orla Mining had a net margin of 1.42% and a return on equity of 17.60%. The business had revenue of $84.57 million for the quarter.

Separately, Scotiabank boosted their price objective on Orla Mining from $5.75 to $6.00 and gave the company a “sector perform” rating in a research report on Friday, October 11th.

Orla Mining Price Performance

Shares of ORLA opened at $3.99 on Thursday. Orla Mining has a 1-year low of $2.60 and a 1-year high of $5.16. The company has a debt-to-equity ratio of 0.18, a quick ratio of 5.02 and a current ratio of 5.89. The firm has a market cap of $1.28 billion, a PE ratio of -398.60 and a beta of 0.79.

Institutional Investors Weigh In On Orla Mining

Several hedge funds and other institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company boosted its holdings in shares of Orla Mining by 2.8% in the second quarter. The Manufacturers Life Insurance Company now owns 177,136 shares of the company’s stock valued at $679,000 after acquiring an additional 4,827 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Orla Mining in the third quarter worth $43,000. American Century Companies Inc. lifted its holdings in Orla Mining by 4.3% in the second quarter. American Century Companies Inc. now owns 412,400 shares of the company’s stock valued at $1,583,000 after acquiring an additional 17,100 shares during the period. CIBC Asset Management Inc boosted its position in shares of Orla Mining by 7.9% during the 2nd quarter. CIBC Asset Management Inc now owns 293,268 shares of the company’s stock worth $1,125,000 after purchasing an additional 21,576 shares in the last quarter. Finally, Toronto Dominion Bank grew its stake in shares of Orla Mining by 536.1% during the 2nd quarter. Toronto Dominion Bank now owns 27,563 shares of the company’s stock worth $106,000 after purchasing an additional 23,230 shares during the period. Institutional investors and hedge funds own 43.04% of the company’s stock.

About Orla Mining

Orla Mining Ltd. acquires, explores, develops, and exploits mineral properties. The company explores for gold, silver, zinc, lead, and copper deposits. It owns 100% interests in the Camino Rojo project that consists of seven concessions covering an area of 138,636 hectares located in Zacatecas, Mexico; Cerro Quema project totaling an area of 15,000 hectares located in the Azuero Peninsula, Panama; and the South Railroad project consisting of an area of 21,000 hectares located in Elko, Nevada.