Cormark Has Bearish Forecast for Orla Mining FY2024 Earnings

Orla Mining Ltd. (NYSEAMERICAN:ORLA) – Investment analysts at Cormark reduced their FY2024 earnings estimates for shares of Orla Mining in a research report issued to clients and investors on Wednesday, February 26th. Cormark analyst R. Gray now forecasts that the company will post earnings of $0.25 per share for the year, down from their previous forecast of $0.26. The consensus estimate for Orla Mining’s current full-year earnings is $0.24 per share. Cormark also issued estimates for Orla Mining’s Q4 2024 earnings at $0.06 EPS and FY2025 earnings at $0.60 EPS.

Other equities research analysts also recently issued research reports about the stock. Scotiabank upgraded shares of Orla Mining from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 27th. TD Securities upgraded shares of Orla Mining to a “hold” rating in a research note on Tuesday, February 4th. Finally, TD Cowen assumed coverage on shares of Orla Mining in a research report on Tuesday, February 4th. They set a “hold” rating on the stock. Two research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $6.13.

Orla Mining Stock Performance

Shares of NYSEAMERICAN:ORLA opened at $7.01 on Friday. Orla Mining has a 52 week low of $3.24 and a 52 week high of $7.62. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.95 and a current ratio of 4.54. The firm has a market capitalization of $2.26 billion, a PE ratio of -700.30 and a beta of 0.71.

Institutional Trading of Orla Mining

Institutional investors and hedge funds have recently modified their holdings of the stock. Mackenzie Financial Corp increased its stake in Orla Mining by 17.2% during the 4th quarter. Mackenzie Financial Corp now owns 145,765 shares of the company’s stock worth $806,000 after purchasing an additional 21,353 shares in the last quarter. Two Sigma Advisers LP bought a new stake in Orla Mining during the 4th quarter worth approximately $84,000. Two Sigma Investments LP increased its stake in Orla Mining by 453.8% during the 4th quarter. Two Sigma Investments LP now owns 360,170 shares of the company’s stock worth $1,995,000 after purchasing an additional 295,133 shares in the last quarter. Toronto Dominion Bank increased its stake in Orla Mining by 167.4% during the 4th quarter. Toronto Dominion Bank now owns 45,906 shares of the company’s stock worth $254,000 after purchasing an additional 28,741 shares in the last quarter. Finally, Gotham Asset Management LLC increased its stake in Orla Mining by 11.8% during the 4th quarter. Gotham Asset Management LLC now owns 19,393 shares of the company’s stock worth $107,000 after purchasing an additional 2,048 shares in the last quarter. 43.04% of the stock is owned by institutional investors.

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.