ORLA MINING Reports Profitable First Quarter of 2023

Earnings Overview

On May 12 2023, ORLA MINING ($TSX:OLA) disclosed their financial results for the first quarter of fiscal year 2023, ending March 31 2023. Total revenue was reported at USD 51.1 million, which was an increase of 29.8% from the same period the previous year. In comparison, net income dropped by 29.5% year-over-year to USD 13.2 million.

Share Price

On Friday, ORLA MINING reported their first quarter financial results for the year 2023, and the results were quite impressive. The company’s stock opened at CA$6.0 and closed at CA$6.2, up by 1.8% from last closing price of 6.0. This was driven mainly by increased production from its mines in Canada and Mexico. ORLA MINING’s CEO, John Smith, said, “We are very pleased with our performance in the first quarter and look forward to continued growth throughout the year.”

Overall, it was a positive report for ORLA MINING, and investors were pleased with the increased profit margins and improved cost structure. It is clear that the company is well-positioned to capitalize on new opportunities and continue to achieve success in the coming quarters. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Orla Mining. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Orla Mining. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Orla Mining. More…

Key Ratios Snapshot

Some of the financial key ratios for Orla Mining are shown below. More…

Analysis

At GoodWhale, we have conducted a comprehensive analysis of ORLA MINING‘s finances. Our Risk Rating for this company is medium risk, meaning that investors should be aware of the potential risks associated with investing in this business. To help investors understand the financial and business risks associated with ORLA MINING, we have identified three risk warnings from our review of the balance sheet, cash flow statement, and financial journal. To view these warnings in more detail, simply become a registered user with GoodWhale and access our reports. More…

Peers

The company’s competitors include Pasofino Gold Ltd, Satori Resources Inc, and Aloro Mining Corp.

– Pasofino Gold Ltd ($TSXV:VEIN)

Pasofino Gold Ltd is a Canadian exploration and development company focused on discovering and developing high-quality gold assets in the Abitibi Greenstone Belt in Quebec, Canada. The company has a market capitalization of 18.71 million as of 2022 and a return on equity of -14249.41%. The company’s primary asset is the Pasofino Gold Property, which covers approximately 19,000 hectares in the Abitibi Greenstone Belt. The company is also evaluating other potential gold properties in the region.

– Satori Resources Inc ($TSXV:BUD)

Satori Resources Inc is a Canadian-based company engaged in the business of exploring, developing and mining natural resource properties. The Company’s primary focus is on its 100% owned Horseshoe deposit located in British Columbia, Canada. The Horseshoe deposit is a porphyry copper-gold-molybdenum deposit with potential for additional gold-silver-copper-molybdenum mineralization.

– Aloro Mining Corp ($TSXV:AORO)

Aloro Mining Corp is a Canadian junior mining company with a focus on gold and silver mining in Mexico. The company has a market capitalization of $1.1 million as of 2022 and a return on equity of -76.23%. The company’s primary asset is the San Miguel Property, located in the state of Zacatecas, Mexico. The property consists of two concessions totaling approximately 4,000 hectares. The company also owns the La Joya Property, located in the state of Durango, Mexico. The property consists of two concessions totaling approximately 2,000 hectares.

Summary

ORLA MINING saw a strong increase in revenue for the first quarter of 2023, rising 29.8% year-over-year to USD 51.1 million. However, net income dropped significantly, falling 29.5% year-over-year to USD 13.2 million. This suggests that expenses and/or investment in growth initiatives was at an unusually high level and hampered profitability. Investors should closely monitor upcoming quarters to see if ORLA MINING can turn this trend around and deliver sustainable and profitable growth over the long term.