Cormark Has Positive Outlook of Orla Mining FY2024 Earnings

Orla Mining Ltd. (NYSEAMERICAN:ORLA) – Equities researchers at Cormark lifted their FY2024 EPS estimates for Orla Mining in a note issued to investors on Friday, January 17th. Cormark analyst R. Gray now expects that the company will post earnings per share of $0.26 for the year, up from their previous forecast of $0.25. The consensus estimate for Orla Mining’s current full-year earnings is $0.20 per share. Cormark also issued estimates for Orla Mining’s Q4 2024 earnings at $0.08 EPS and Q1 2025 earnings at $0.06 EPS.

A number of other brokerages have also issued reports on ORLA. Scotiabank upgraded shares of Orla Mining from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 27th. Desjardins raised shares of Orla Mining to a “moderate buy” rating in a report on Thursday, October 31st.

Orla Mining Stock Performance

Shares of NYSEAMERICAN:ORLA opened at $5.76 on Monday. Orla Mining has a 52-week low of $3.13 and a 52-week high of $6.05. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.54 and a quick ratio of 3.95. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of -575.42 and a beta of 0.69.

Institutional Trading of Orla Mining

Several institutional investors and hedge funds have recently modified their holdings of ORLA. CWA Asset Management Group LLC acquired a new position in Orla Mining in the 3rd quarter valued at $5,927,000. D.A. Davidson & CO. acquired a new stake in shares of Orla Mining during the third quarter worth approximately $1,539,000. JPMorgan Chase & Co. boosted its stake in Orla Mining by 262.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 284,408 shares of the company’s stock valued at $1,138,000 after acquiring an additional 205,911 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Orla Mining by 50.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 450,000 shares of the company’s stock worth $1,812,000 after purchasing an additional 150,000 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Orla Mining by 67.2% in the third quarter. The Manufacturers Life Insurance Company now owns 296,097 shares of the company’s stock worth $1,192,000 after purchasing an additional 118,961 shares in the last quarter. Hedge funds and other institutional investors 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.