Cormark Research Analysts Cut Earnings Estimates for Orla Mining Ltd. (NYSEAMERICAN:ORLA)

Orla Mining Ltd. (NYSEAMERICAN:ORLA) – Equities researchers at Cormark reduced their FY2023 earnings per share (EPS) estimates for shares of Orla Mining in a research note issued on Wednesday, November 15th. Cormark analyst R. Gray now forecasts that the company will post earnings per share of $0.13 for the year, down from their previous estimate of $0.19. The consensus estimate for Orla Mining’s current full-year earnings is $0.17 per share. Cormark also issued estimates for Orla Mining’s Q4 2023 earnings at $0.03 EPS, FY2024 earnings at $0.12 EPS and FY2025 earnings at $0.10 EPS.

A number of other research firms have also issued reports on ORLA. TD Securities dropped their price objective on shares of Orla Mining from C$8.00 to C$7.50 in a research note on Friday, August 4th. TheStreet lowered shares of Orla Mining from a “b-” rating to a “c+” rating in a research note on Monday, October 2nd.

Orla Mining Price Performance

Shares of NYSEAMERICAN ORLA opened at $2.92 on Monday. The firm has a market capitalization of $918.11 million, a P/E ratio of 18.25 and a beta of 0.97. The company has a quick ratio of 1.73, a current ratio of 2.91 and a debt-to-equity ratio of 0.25. Orla Mining has a one year low of $2.83 and a one year high of $5.02.

Hedge Funds Weigh In On Orla Mining

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ORLA. HighTower Advisors LLC lifted its position in shares of Orla Mining by 34.7% during the 1st quarter. HighTower Advisors LLC now owns 53,979 shares of the company’s stock valued at $258,000 after buying an additional 13,892 shares in the last quarter. Cibc World Market Inc. lifted its holdings in Orla Mining by 73.4% in the 1st quarter. Cibc World Market Inc. now owns 84,345 shares of the company’s stock worth $404,000 after purchasing an additional 35,698 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in Orla Mining by 111.0% in the 1st quarter. Vontobel Holding Ltd. now owns 52,735 shares of the company’s stock worth $252,000 after purchasing an additional 27,740 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Orla Mining by 22.9% in the 1st quarter. Vanguard Group Inc. now owns 91,530 shares of the company’s stock worth $438,000 after purchasing an additional 17,064 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in Orla Mining by 28.9% in the 1st quarter. Mackenzie Financial Corp now owns 104,219 shares of the company’s stock worth $499,000 after purchasing an additional 23,345 shares in the last quarter. 36.27% of the stock is owned by institutional investors.

About Orla Mining

Orla Mining Ltd. acquires, explores, operates, 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 138,636 hectares located in Zacatecas, Mexico; and Cerro Quema project totaling an area of 14,893 hectares located in the Azuero Peninsula, Panama.