Desjardins Issues Negative Forecast for Orla Mining Earnings

Orla Mining Ltd. (NYSEAMERICAN:ORLA - Free Report) - Equities research analysts at Desjardins decreased their FY2024 earnings per share estimates for Orla Mining in a note issued to investors on Tuesday, November 12th. Desjardins analyst A. Carson now forecasts that the company will earn $0.22 per share for the year, down from their previous estimate 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 - Get Free Report) last announced its earnings results on Monday, August 12th. The company reported $0.07 earnings per share for the quarter, hitting analysts' consensus estimates of $0.07. The company had revenue of $84.57 million for the quarter. Orla Mining had a return on equity of 17.60% and a net margin of 1.42%.

Separately, Scotiabank increased their price target on Orla Mining from $5.75 to $6.00 and gave the stock a "sector perform" rating in a research report on Friday, October 11th.

Orla Mining Price Performance

Shares of NYSEAMERICAN ORLA traded down $0.11 during trading hours on Thursday, reaching $3.88. 469,558 shares of the stock were exchanged, compared to its average volume of 421,883. The firm has a market cap of $1.24 billion, a P/E ratio of -398.60 and a beta of 0.79. The company has a current ratio of 5.89, a quick ratio of 5.02 and a debt-to-equity ratio of 0.18. Orla Mining has a 52 week low of $2.60 and a 52 week high of $5.16.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Goehring & Rozencwajg Associates LLC grew its position in shares of Orla Mining by 16.3% in the second quarter. Goehring & Rozencwajg Associates LLC now owns 1,295,214 shares of the company's stock valued at $4,969,000 after purchasing an additional 181,900 shares in the last quarter. CWA Asset Management Group LLC bought a new stake in Orla Mining during the third quarter valued at $5,927,000. Allspring Global Investments Holdings LLC boosted its stake in Orla Mining by 50.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 450,000 shares of the company's stock valued at $1,812,000 after buying an additional 150,000 shares during the period. Renaissance Technologies LLC bought a new stake in Orla Mining during the second quarter valued at $102,000. Finally, International Assets Investment Management LLC bought a new stake in Orla Mining during the third quarter valued at $43,000. 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.