Cormark Comments on Orla Mining Ltd.’s FY2023 Earnings (NYSEAMERICAN:ORLA)

Orla Mining Ltd. (NYSEAMERICAN:ORLAGet Rating) – Cormark cut their FY2023 earnings estimates for shares of Orla Mining in a research report issued on Tuesday, January 17th. Cormark analyst R. Gray now expects that the company will post earnings per share of $0.03 for the year, down from their previous forecast of $0.29. The consensus estimate for Orla Mining’s current full-year earnings is $0.18 per share.

Orla Mining (NYSEAMERICAN:ORLAGet Rating) last issued its quarterly earnings results on Thursday, November 10th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). The business had revenue of $49.03 million during the quarter. Orla Mining had a return on equity of 12.79% and a net margin of 15.72%.

ORLA has been the subject of a number of other reports. Scotiabank reduced their price objective on shares of Orla Mining from C$6.25 to C$6.00 in a research note on Tuesday. Desjardins reduced their price objective on shares of Orla Mining from C$6.50 to C$6.00 in a research note on Tuesday.

Orla Mining Stock Performance

NYSEAMERICAN:ORLA opened at $4.00 on Friday. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 50.01 and a beta of 0.81. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.51 and a quick ratio of 1.28. Orla Mining has a fifty-two week low of $2.30 and a fifty-two week high of $5.24.

Hedge Funds Weigh In On Orla Mining

Several large investors have recently added to or reduced their stakes in the company. Credit Suisse AG increased its position in Orla Mining by 5.2% in the second quarter. Credit Suisse AG now owns 111,484 shares of the company’s stock worth $393,000 after purchasing an additional 5,556 shares during the last quarter. Vontobel Holding Ltd. increased its position in Orla Mining by 17.8% in the third quarter. Vontobel Holding Ltd. now owns 62,135 shares of the company’s stock worth $203,000 after purchasing an additional 9,400 shares during the last quarter. Great West Life Assurance Co. Can bought a new stake in Orla Mining in the third quarter worth $32,000. Virtu Financial LLC bought a new position in Orla Mining during the third quarter valued at $33,000. Finally, First Trust Advisors LP bought a new position in Orla Mining during the third quarter valued at $34,000. Hedge funds and other institutional investors own 30.33% of the company’s stock.

About Orla Mining

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Orla Mining Ltd. acquires, explores for, and develops 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 163,129 hectares located in Zacatecas, Mexico; and Cerro Quema project totaling an area of 14,800 hectares located in the Azuero Peninsula, Panama.

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