Orla Mining (NYSEAMERICAN:ORLA – Get Rating) had its target price reduced by stock analysts at Desjardins from C$6.50 to C$6.00 in a note issued to investors on Tuesday, The Fly reports. Desjardins also issued estimates for Orla Mining’s FY2023 earnings at $0.10 EPS and FY2024 earnings at $0.20 EPS.
Separately, Scotiabank reduced their price target on Orla Mining from C$7.00 to C$6.25 in a research report on Monday, October 24th.
Orla Mining Stock Performance
Shares of NYSEAMERICAN ORLA opened at $3.88 on Tuesday. The company has a current ratio of 1.51, a quick ratio of 1.28 and a debt-to-equity ratio of 0.35. Orla Mining has a one year low of $2.30 and a one year high of $5.24. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 48.44 and a beta of 0.81.
Orla Mining (NYSEAMERICAN:ORLA – Get Rating) last issued its earnings results on Thursday, November 10th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). Orla Mining had a net margin of 15.72% and a return on equity of 12.79%. The firm had revenue of $49.03 million during the quarter. On average, sell-side analysts predict that Orla Mining will post 0.18 EPS for the current year.
Hedge Funds Weigh In On Orla Mining
Several large investors have recently made changes to their positions in the business. Jane Street Group LLC raised its holdings in Orla Mining by 94.9% in the 3rd quarter. Jane Street Group LLC now owns 73,096 shares of the company’s stock valued at $239,000 after acquiring an additional 35,600 shares in the last quarter. Alliancebernstein L.P. acquired a new position in Orla Mining in the 3rd quarter valued at approximately $80,000. Vanguard Group Inc. raised its holdings in Orla Mining by 18.1% in the 3rd quarter. Vanguard Group Inc. now owns 125,976 shares of the company’s stock valued at $410,000 after acquiring an additional 19,346 shares in the last quarter. Fairfax Financial Holdings Ltd. Can acquired a new position in Orla Mining in the 3rd quarter valued at approximately $32,502,000. Finally, First Trust Advisors LP acquired a new position in Orla Mining in the 3rd quarter valued at approximately $34,000. Institutional investors and hedge funds own 30.33% of the company’s stock.
About Orla Mining
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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