What is Cormark’s Estimate for Orla Mining FY2024 Earnings?

Orla Mining Ltd. (NYSEAMERICAN:ORLA) – Investment analysts at Cormark dropped their FY2024 earnings estimates for Orla Mining in a report released 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 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.

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

Orla Mining Trading Down 4.1 %

Shares of NYSEAMERICAN ORLA opened at $7.01 on Friday. The stock has a market cap of $2.26 billion, a PE ratio of -700.30 and a beta of 0.71. Orla Mining has a 12 month low of $3.16 and a 12 month high of $7.62. The company has a quick ratio of 3.95, a current ratio of 4.54 and a debt-to-equity ratio of 0.12.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ORLA. Allspring Global Investments Holdings LLC lifted its position 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 in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Orla Mining during the third quarter valued at approximately $43,000. CWA Asset Management Group LLC purchased a new stake in shares of Orla Mining during the third quarter valued at approximately $5,927,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Orla Mining during the third quarter valued at approximately $242,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Orla Mining by 67.2% during the third quarter. The Manufacturers Life Insurance Company now owns 296,097 shares of the company’s stock valued at $1,192,000 after purchasing an additional 118,961 shares during the period. 43.04% of the stock is 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.