Analysts Offer Predictions for Orla Mining Ltd.'s FY2024 Earnings (NYSEAMERICAN:ORLA)

Orla Mining Ltd. (NYSEAMERICAN:ORLA - Free Report) - Stock analysts at Desjardins increased their FY2024 earnings per share estimates for Orla Mining in a research note issued on Tuesday, May 14th. Desjardins analyst J. Sclodnick now expects that the company will post earnings of $0.17 per share for the year, up from their prior estimate of $0.07. The consensus estimate for Orla Mining's current full-year earnings is $0.12 per share. Desjardins also issued estimates for Orla Mining's FY2025 earnings at $0.31 EPS and FY2026 earnings at $0.24 EPS.

Orla Mining (NYSEAMERICAN:ORLA - Get Free Report) last announced its earnings results on Tuesday, March 19th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.04. Orla Mining had a positive return on equity of 12.19% and a negative net margin of 9.11%. The company had revenue of $62.95 million for the quarter.

Separately, Stifel Nicolaus boosted their target price on Orla Mining from $6.00 to $6.25 and gave the stock a "buy" rating in a research report on Wednesday.

Orla Mining Stock Performance

ORLA stock traded up $0.13 during midday trading on Friday, hitting $4.38. The company's stock had a trading volume of 509,543 shares, compared to its average volume of 514,768. The company has a quick ratio of 4.04, a current ratio of 5.07 and a debt-to-equity ratio of 0.23. Orla Mining has a 52-week low of $2.60 and a 52-week high of $4.82. The stock has a market capitalization of $1.39 billion, a PE ratio of -54.74 and a beta of 0.84.

Hedge Funds Weigh In On Orla Mining

A number of hedge funds have recently bought and sold shares of ORLA. Fairfax Financial Holdings Ltd. Can lifted its holdings in shares of Orla Mining by 21.2% during the fourth quarter. Fairfax Financial Holdings Ltd. Can now owns 37,697,191 shares of the company's stock valued at $121,788,000 after purchasing an additional 6,588,541 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Orla Mining by 0.7% during the 3rd quarter. Van ECK Associates Corp now owns 9,838,306 shares of the company's stock valued at $34,782,000 after acquiring an additional 72,209 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in Orla Mining by 19.2% in the 4th quarter. First Eagle Investment Management LLC now owns 8,198,355 shares of the company's stock worth $26,730,000 after purchasing an additional 1,323,223 shares during the last quarter. Franklin Resources Inc. raised its holdings in Orla Mining by 6.3% in the 4th quarter. Franklin Resources Inc. now owns 7,972,555 shares of the company's stock worth $25,994,000 after acquiring an additional 475,000 shares during the period. Finally, Invesco Ltd. grew its position in shares of Orla Mining by 1.2% in the third quarter. Invesco Ltd. now owns 5,667,112 shares of the company's stock valued at $20,232,000 after purchasing an additional 69,920 shares during 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.