Orla Mining Ltd.
ORLAOrla Mining Ltd. is a Canadian exploration and development company focused on the discovery and advancement of mineral projects, primarily gold. The company is known for its flagship project, the Camino Rojo Gold Mine in Mexico, which is a significant open-pit gold and silver mine. Orla Mining aims to develop high-quality mineral assets and expand its portfolio through exploration and strategic acquisitions.
Company News
Orla Mining reported strong Q3 financial results, beating analyst estimates with nearly $275 million in revenue and $73 million in net income. The gold mining company produced 79,645 ounces of gold in the quarter and saw its stock price rise by 13.61%.
Newmont Corp sold its entire 13.3% stake in Orla Mining, raising $900 million in proceeds to support capital allocation priorities and streamline its equity portfolio.
The United Steelworkers union has filed a complaint under the CUSMA trade deal on behalf of workers at a Canadian-owned mine in Mexico who have faced assaults and death threats after joining an independent union. The complaint calls for an investigation into the violation of workers' rights at the Camino Rojo mine, owned by Orla Mining.
Canada's main stock index hovered near four-week highs on Thursday, amid broad-based sectoral gains, as investors awaited U.S. employment data to gauge the trajectory of interest rate cuts.
Orla Mining (ORLA) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
