FY2024 Earnings Forecast for Orla Mining Issued By Cormark

Orla Mining Ltd. (NYSEAMERICAN:ORLA) – Investment analysts at Cormark cut their FY2024 earnings estimates for shares of Orla Mining in a report issued on Wednesday, February 26th. Cormark analyst R. Gray now expects that the company will post earnings per share of $0.25 for the year, down from their prior 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.

A number of other research analysts have also recently commented on ORLA. TD Cowen assumed coverage on Orla Mining in a research note on Tuesday, February 4th. They set a “hold” rating on the stock. Desjardins upgraded shares of Orla Mining to a “moderate buy” rating in a research note on Thursday, October 31st. Scotiabank upgraded shares of Orla Mining from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 27th. Finally, TD Securities raised Orla Mining to a “hold” rating in a report on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $6.13.

Orla Mining Price Performance

Orla Mining stock opened at $7.01 on Friday. The company has a market capitalization of $2.26 billion, a PE ratio of -700.30 and a beta of 0.71. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.54 and a quick ratio of 3.95. Orla Mining has a 1-year low of $3.16 and a 1-year high of $7.62.

Institutional Investors Weigh In On Orla Mining

A number of hedge funds and other institutional investors have recently modified their holdings of ORLA. Geode Capital Management LLC increased its holdings in Orla Mining by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 116,293 shares of the company’s stock valued at $650,000 after acquiring an additional 1,665 shares in the last quarter. Walleye Capital LLC increased its holdings in Orla Mining by 10.2% during the 4th quarter. Walleye Capital LLC now owns 19,128 shares of the company’s stock valued at $106,000 after acquiring an additional 1,764 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Orla Mining by 0.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 452,000 shares of the company’s stock valued at $2,500,000 after acquiring an additional 2,000 shares in the last quarter. Gotham Asset Management LLC increased its holdings in Orla Mining by 11.8% during the 4th quarter. Gotham Asset Management LLC now owns 19,393 shares of the company’s stock valued at $107,000 after acquiring an additional 2,048 shares in the last quarter. Finally, D.A. Davidson & CO. increased its holdings in Orla Mining by 2.0% during the 4th quarter. D.A. Davidson & CO. now owns 392,364 shares of the company’s stock valued at $2,174,000 after acquiring an additional 7,667 shares in the last quarter. 43.04% of the stock is currently owned by institutional investors and hedge funds.

Orla Mining Company Profile

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.