Cormark Research Analysts Lift Earnings Estimates for Orla Mining Ltd. (TSE:OLA)

Orla Mining Ltd. (TSE:OLA) – Analysts at Cormark raised their Q2 2024 earnings estimates for Orla Mining in a research report issued to clients and investors on Thursday, July 11th. Cormark analyst R. Gray now expects that the company will post earnings per share of $0.10 for the quarter, up from their prior forecast of $0.05. The consensus estimate for Orla Mining’s current full-year earnings is $0.22 per share. Cormark also issued estimates for Orla Mining’s FY2024 earnings at $0.22 EPS.

Orla Mining (TSE:OLA) last posted its earnings results on Tuesday, May 14th. The company reported C$0.07 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.06 by C$0.01. The firm had revenue of C$90.70 million for the quarter. Orla Mining had a negative net margin of 9.11% and a negative return on equity of 5.47%.

A number of other analysts have also recently weighed in on OLA. Scotiabank cut shares of Orla Mining from an “outperform” rating to a “sector perform” rating and set a C$5.75 target price on the stock. in a research note on Thursday, May 23rd. TD Securities decreased their target price on shares of Orla Mining from C$6.00 to C$5.50 and set a “hold” rating on the stock in a research note on Wednesday, May 15th. Stifel Nicolaus boosted their target price on shares of Orla Mining from C$6.00 to C$6.25 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. CIBC lifted their price target on shares of Orla Mining from C$7.25 to C$7.50 in a report on Wednesday. Finally, Desjardins lifted their price target on shares of Orla Mining from C$6.75 to C$7.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$6.31.

Orla Mining Stock Performance

TSE OLA opened at C$5.35 on Friday. The firm’s fifty day moving average price is C$5.46 and its two-hundred day moving average price is C$5.05. The stock has a market cap of C$1.70 billion, a PE ratio of -44.58 and a beta of 1.59. Orla Mining has a fifty-two week low of C$3.53 and a fifty-two week high of C$6.52. The company has a debt-to-equity ratio of 21.76, a quick ratio of 1.22 and a current ratio of 5.68.

Insider Activity at Orla Mining

In related news, Director Timothy Quentin Haldane sold 65,000 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of C$5.97, for a total value of C$387,972.00. In related news, Director Timothy Quentin Haldane sold 65,000 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of C$5.97, for a total value of C$387,972.00. Also, Senior Officer John Andrew Cormier sold 35,000 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of C$5.93, for a total transaction of C$207,438.00. Insiders have sold a total of 213,100 shares of company stock worth $1,221,467 over the last quarter. Company insiders own 34.72% of the company’s stock.

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.