Brokers Set Expectations for Orla Mining FY2024 Earnings

Orla Mining Ltd. (NYSEAMERICAN:ORLA) – Analysts at Stifel Canada reduced their FY2024 earnings per share estimates for shares of Orla Mining in a research report issued to clients and investors on Monday, December 2nd. Stifel Canada analyst S. Soock now expects that the company will earn $0.10 per share for the year, down from their prior estimate of $0.25. The consensus estimate for Orla Mining’s current full-year earnings is $0.23 per share.

A number of other analysts also recently issued reports on the company. Scotiabank upgraded Orla Mining from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 27th. Desjardins upgraded Orla Mining to a “moderate buy” rating in a research report on Thursday, October 31st.

Orla Mining Stock Performance

Shares of NYSEAMERICAN:ORLA opened at $4.89 on Wednesday. The company has a current ratio of 4.54, a quick ratio of 3.95 and a debt-to-equity ratio of 0.12. Orla Mining has a 1-year low of $2.60 and a 1-year high of $5.16. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of -488.51 and a beta of 0.75.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company lifted its holdings in 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 during the period. International Assets Investment Management LLC bought a new position in Orla Mining in the third quarter valued at about $43,000. Kitching Partners LLC bought a new position in Orla Mining in the third quarter valued at about $48,000. Geode Capital Management LLC lifted its holdings in Orla Mining by 11.9% in the third quarter. Geode Capital Management LLC now owns 114,628 shares of the company’s stock valued at $463,000 after acquiring an additional 12,159 shares during the period. Finally, Jane Street Group LLC increased its position in Orla Mining by 7.8% in the third quarter. Jane Street Group LLC now owns 212,002 shares of the company’s stock worth $853,000 after buying an additional 15,404 shares in the last quarter. 43.04% of the stock is owned by institutional investors.

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.