FY2024 EPS Estimates for Orla Mining Decreased by Desjardins

Orla Mining Ltd. (NYSEAMERICAN:ORLA) – Research analysts at Desjardins cut their FY2024 earnings estimates for Orla Mining in a note issued to investors on Tuesday, November 12th. Desjardins analyst A. Carson now expects that the company will post earnings per share of $0.22 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 $0.23 per share. Desjardins also issued estimates for Orla Mining’s FY2025 earnings at $0.26 EPS.

Separately, Scotiabank lifted their price objective on Orla Mining from $5.75 to $6.00 and gave the stock a “sector perform” rating in a research note on Friday, October 11th.

Orla Mining Stock Performance

Shares of Orla Mining stock opened at $3.94 on Thursday. The company has a quick ratio of 5.02, a current ratio of 5.89 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1.26 billion, a PE ratio of -393.61 and a beta of 0.79. Orla Mining has a twelve month low of $2.60 and a twelve month high of $5.16.

Institutional Investors Weigh In On Orla Mining

Several large investors have recently added to or reduced their stakes in ORLA. Goehring & Rozencwajg Associates LLC raised its position in Orla Mining by 16.3% in the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 1,295,214 shares of the company’s stock worth $4,969,000 after purchasing an additional 181,900 shares during the period. CWA Asset Management Group LLC purchased a new stake in shares of Orla Mining in the third quarter worth approximately $5,927,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Orla Mining by 50.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 450,000 shares of the company’s stock worth $1,812,000 after acquiring an additional 150,000 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Orla Mining during the 2nd quarter valued at $102,000. Finally, International Assets Investment Management LLC bought a new position in Orla Mining in the 3rd quarter valued at $43,000. 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.