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Orla Mining (TSE:OLA)
TSX:OLA
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Orla Mining (OLA) AI Stock Analysis

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TSE:OLA

Orla Mining

(TSX:OLA)

Rating:57Neutral
Price Target:
C$15.00
▼(-1.96% Downside)
Orla Mining's overall stock score reflects strong revenue growth but is tempered by profitability and cash flow challenges. The high P/E ratio suggests overvaluation, and technical indicators point to potential short-term weakness. The mixed sentiment from the earnings call further impacts the score.
Positive Factors
Debt Management
The company intends to further repay debt in the near term from cash flows, indicating financial management focus.
Growth Prospects
Orla is seen as a strong operator with growth prospects, expected to strengthen share prices from operating, permitting, and expansion milestones.
Production Achievements
Orla announced record quarterly production of ~77,811oz including 25,145oz from Camino Rojo and 52,666oz from Musselwhite broadly in line with expectations.
Negative Factors
Market Distraction
Union representation issues at Camino Rojo have been referred to authorities, creating a distraction for the market.
Operational Challenges
The market remains focused on the restart process for the Camino Rojo open pit due to slope movement issues.
Union Issues
Union representation issues at Camino Rojo have been referred to authorities, creating a distraction for the market.

Orla Mining (OLA) vs. iShares MSCI Canada ETF (EWC)

Orla Mining Business Overview & Revenue Model

Company DescriptionOrla 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. The company was formerly known as Red Mile Minerals Corp. and changed its name to Orla Mining Ltd. in June 2015. Orla Mining Ltd. was incorporated in 2007 and is headquartered in Vancouver, Canada.
How the Company Makes MoneyOrla Mining generates revenue primarily through the discovery, development, and production of gold and silver from its mineral properties. The company monetizes its assets by selling the extracted precious metals in the global commodities market. A significant portion of Orla's revenue comes from its Camino Rojo project, which is a key driver of the company's financial performance. Additionally, Orla Mining may engage in strategic partnerships, joint ventures, and royalty agreements to leverage expertise, share risks, and enhance revenue streams. The company also focuses on cost-effective exploration and production practices to maximize profitability and shareholder value.

Orla Mining Earnings Call Summary

Earnings Call Date:Aug 11, 2025
(Q2-2025)
|
% Change Since: |
Next Earnings Date:Nov 17, 2025
Earnings Call Sentiment Neutral
Orla Mining's earnings call presented a mixed outlook. The company achieved record production and financial performance, driven by successful integration of Musselwhite and exploration achievements. However, challenges such as the Camino Rojo pit wall incident, increased production costs, and concerns in Mexico weigh on the overall sentiment.
Q2-2025 Updates
Positive Updates
Record Production and Revenue
Orla Mining recorded a historic quarter with 79,000 ounces of gold sold at a realized price of $3,251 per ounce, resulting in approximately $264 million in revenue. This was driven by the first full quarter of production from Musselwhite and continued operations at Camino Rojo.
Successful Musselwhite Integration
Musselwhite contributed significantly with nearly 53,000 ounces of gold produced from 303,000 tonnes of ore at a mill head grade of 5.52 grams per tonne and recovery rates of 96.5%.
Strong Financial Performance
Reported net income for the quarter was $48 million or $0.15 per share, with an adjusted net earnings of $64 million or $0.20 per share. Cash flow from operations before changes in noncash working capital was $103 million or $0.32 per share.
Exploration Success and Resource Update
Initial underground resource estimate for Camino Rojo was released, including 4.2 million gold equivalent ounces in the measured and indicated category and 0.42 million in the inferred category. Zone 22 remains a significant source of upside.
Sustainability and Community Engagement
Orla Mining is about to publish its 2024 sustainability report, highlighting progress in Scope 3 emissions, environmental standards, and community projects. Continued engagement with stakeholders in Mexico and Nevada was emphasized.
Negative Updates
Camino Rojo Pit Wall Incident
An uncontrolled material movement event occurred at Camino Rojo, temporarily pausing in-pit mining. Approximately 390,000 tonnes of material were involved, leading to a revised guidance of 95,000 to 105,000 ounces of gold production for the year.
Increased Costs and Revised Guidance
Revised consolidated guidance for 2025 is now expected to be 265,000 to 285,000 ounces of gold at cash costs of $900 to $1,100 per ounce, compared to previous guidance of 280,000 to 300,000 ounces at $850 to $1,050 per ounce.
Labor and Security Concerns in Mexico
Orla is reviewing labor practices and potential criminal activity at the Camino Rojo mine. Regional security risks are affecting the mine and neighboring communities, though no operational impact has been reported.
Company Guidance
During the Orla Mining conference call for the second quarter of 2025, a detailed update on the company's guidance was provided. Due to an uncontrolled material movement event at the Camino Rojo site, Orla revised its gold production guidance for the year to between 95,000 and 105,000 ounces at cash costs of $800 to $900 per ounce sold, with all-in sustaining costs ranging from $850 to $950 per ounce sold. This compares to the initial guidance of 110,000 to 120,000 ounces at lower costs. The company's 2025 consolidated guidance was also adjusted to 265,000 to 285,000 ounces of gold at cash costs of $900 to $1,100 per ounce sold and all-in sustaining costs of $1,350 to $1,550 per ounce sold, down from the previous guidance of 280,000 to 300,000 ounces. Despite the setback, the company highlighted strong quarterly production, reporting 79,000 ounces of gold sold at a realized price of $3,251 per ounce and net income of $48 million. The Musselwhite site achieved a first full quarter of production, contributing significantly to the overall output.

Orla Mining Financial Statement Overview

Summary
Orla Mining demonstrates strong financial performance with substantial revenue growth and improved profitability. The balance sheet is solid with low leverage and high equity ratios, while cash flows are robust, supporting the company's operational and financial stability.
Income Statement
85
Very Positive
Orla Mining has shown impressive revenue growth, with a 47.17% increase from the previous year. The gross profit margin stands at a healthy 63.32%, and the net profit margin has turned positive at 25.88%, reflecting improved profitability. Both EBIT and EBITDA margins have significantly improved due to increased revenues and cost efficiencies.
Balance Sheet
88
Very Positive
The company maintains a low debt-to-equity ratio of 0.004, indicating strong financial stability with minimal leverage. Return on Equity has increased to 17.54%, showcasing effective use of equity to generate profits. The equity ratio is high at 84.81%, reflecting a strong equity position relative to total assets.
Cash Flow
92
Very Positive
Orla Mining's cash flow is robust, with a significant increase in free cash flow, growing by 226.71% from the previous year. The operating cash flow to net income ratio is 1.96, indicating strong cash generation relative to net income. Free cash flow to net income ratio is commendable at 1.63, reflecting effective capital management and profitability.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue596.49M343.92M233.64M193.23M4.09M0.00
Gross Profit327.83M217.64M141.53M127.86M3.46M-106.00K
EBITDA246.13M223.74M48.05M133.46M-24.71M-29.33M
Net Income25.61M88.98M-27.01M45.77M-27.68M-32.91M
Balance Sheet
Total Assets1.86B598.35M535.78M613.82M364.89M239.19M
Cash, Cash Equivalents and Short-Term Investments215.45M160.85M96.63M96.28M20.52M72.18M
Total Debt397.29M2.18M91.26M148.97M162.75M70.41M
Total Liabilities1.36B90.90M135.24M216.83M180.48M78.61M
Stockholders Equity497.84M507.44M400.54M396.98M184.42M160.58M
Cash Flow
Free Cash Flow-250.97M145.19M44.44M77.33M-120.98M-49.43M
Operating Cash Flow603.79M174.62M65.30M95.31M-24.74M-18.13M
Investing Cash Flow-858.99M-21.94M-41.73M-13.36M-113.27M-36.90M
Financing Cash Flow316.73M-86.56M-23.13M-5.38M85.95M100.59M

Orla Mining Technical Analysis

Technical Analysis Sentiment
Positive
Last Price15.30
Price Trends
50DMA
14.40
Positive
100DMA
14.42
Positive
200DMA
11.75
Positive
Market Momentum
MACD
0.01
Negative
RSI
59.83
Neutral
STOCH
91.38
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:OLA, the sentiment is Positive. The current price of 15.3 is above the 20-day moving average (MA) of 13.79, above the 50-day MA of 14.40, and above the 200-day MA of 11.75, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 59.83 is Neutral, neither overbought nor oversold. The STOCH value of 91.38 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:OLA.

Orla Mining Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
61
Neutral
$10.31B6.160.76%2.94%3.30%-36.34%
57
Neutral
C$4.98B156.124.89%123.03%
$4.94B12.1310.82%
$4.51B31.1914.11%
$2.70B12.6912.84%
$6.24B10.94-0.54%
$4.73B76.2812.71%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
TSE:OLA
Orla Mining
14.76
9.04
158.04%
EGO
Eldorado Gold
24.28
6.98
40.35%
NGD
New Gold
5.71
3.22
129.32%
TORXF
Torex Gold Resources
31.21
11.96
62.13%
EQX
Equinox Gold
8.20
2.45
42.61%
ARGTF
Artemis Gold
20.60
11.62
129.40%

Orla Mining Corporate Events

Business Operations and StrategyRegulatory Filings and Compliance
Orla Mining Advances South Railroad Project with Key Federal Milestone
Positive
Aug 13, 2025

Orla Mining Ltd. has achieved a significant milestone with the U.S. Department of the Interior Bureau of Land Management’s publication of the Notice of Intent for its South Railroad Project in Nevada. This marks the beginning of the federal permitting process, which is crucial for the project’s development. The South Railroad project is part of Orla’s strategy to increase its annual gold production to 500,000 ounces. The company is working to expedite the construction timeline and has already started detailed engineering and equipment procurement to mitigate development risks. This development is expected to enhance Orla’s position in the mining industry and provide growth opportunities on the Carlin Trend.

The most recent analyst rating on (TSE:OLA) stock is a Buy with a C$15.50 price target. To see the full list of analyst forecasts on Orla Mining stock, see the TSE:OLA Stock Forecast page.

Business Operations and StrategyFinancial Disclosures
Orla Mining Achieves Record Gold Production in Q2 2025 Despite Operational Challenges
Positive
Aug 12, 2025

Orla Mining reported record gold production and sales for the second quarter of 2025, with 77,811 ounces produced and 78,911 ounces sold. Despite a pit wall event at Camino Rojo, which required operational adjustments, the company maintained strong financial performance with a net income of $48.2 million. The incident led to updated annual guidance, but proactive measures ensured no injuries or equipment damage, highlighting the company’s commitment to safety and operational resilience.

The most recent analyst rating on (TSE:OLA) stock is a Buy with a C$15.50 price target. To see the full list of analyst forecasts on Orla Mining stock, see the TSE:OLA Stock Forecast page.

Business Operations and Strategy
Orla Mining Unveils Promising Drill Results at Camino Rojo
Positive
Aug 7, 2025

Orla Mining has announced new drill results from Zone 22 at the Camino Rojo deposit, revealing high-grade mineralization outside current resource panels. This discovery enhances the potential for resource growth and classification upgrades, with the infill drilling program supporting an updated underground resource estimate. The program’s success has led to an expansion of the drilling initiative, which is expected to contribute to the planned 2026 Preliminary Economic Assessment. The results indicate strong potential for further growth and reinforce Zone 22’s significance in the company’s underground exploration strategy.

The most recent analyst rating on (TSE:OLA) stock is a Buy with a C$15.50 price target. To see the full list of analyst forecasts on Orla Mining stock, see the TSE:OLA Stock Forecast page.

Business Operations and StrategyFinancial Disclosures
Orla Mining Updates on Camino Rojo Pit Wall Event and Adjusts 2025 Guidance
Negative
Aug 5, 2025

Orla Mining Ltd. has announced an update regarding a recent pit wall event at its Camino Rojo Oxide Mine in Zacatecas, Mexico. The incident involved uncontrolled material movement on the north wall of the open pit, but resulted in no injuries or equipment damage. The company has conducted a geotechnical assessment and developed an action plan to stabilize the north wall, which includes a 50-80 metre pushback and continuous monitoring to ensure safety. This event has led to a revision of Orla’s 2025 production guidance, with a slight reduction in expected gold production and an increase in cash costs and all-in sustaining costs. The company emphasizes the importance of safety and operational discipline in its response to the event.

The most recent analyst rating on (TSE:OLA) stock is a Buy with a C$15.50 price target. To see the full list of analyst forecasts on Orla Mining stock, see the TSE:OLA Stock Forecast page.

Business Operations and Strategy
Orla Mining Addresses Pit Wall Event at Camino Rojo
Neutral
Jul 25, 2025

Orla Mining Ltd. reported an uncontrolled material movement at its Camino Rojo Oxide Mine in Mexico, resulting in a temporary suspension of open pit mining operations. No injuries or environmental damage occurred, and the company is conducting geotechnical assessments to ensure safe remediation. Meanwhile, Orla continues to process stockpile material to mitigate short-term production impacts, with updates on production and costs expected following the assessments.

The most recent analyst rating on (TSE:OLA) stock is a Buy with a C$15.50 price target. To see the full list of analyst forecasts on Orla Mining stock, see the TSE:OLA Stock Forecast page.

Business Operations and Strategy
Orla Mining Temporarily Halts Operations at Camino Rojo Due to Pit Wall Incident
Negative
Jul 24, 2025

Orla Mining Ltd. reported an uncontrolled material movement at its Camino Rojo Oxide Mine in Mexico, caused by significant rain. While there were no injuries or environmental damage, mining has been temporarily suspended for safety assessments. The company is evaluating the impact on its annual production guidance and is implementing remediation measures to ensure operational stability.

The most recent analyst rating on (TSE:OLA) stock is a Buy with a C$15.50 price target. To see the full list of analyst forecasts on Orla Mining stock, see the TSE:OLA Stock Forecast page.

Product-Related AnnouncementsBusiness Operations and Strategy
Orla Mining Updates Camino Rojo Technical Report to Include Underground Resources
Positive
Jul 17, 2025

Orla Mining has filed an updated technical report for its Camino Rojo deposit in Mexico, now including an initial underground mineral resource estimate. The company is advancing a drilling program and conducting engineering studies to support future development, with plans for an exploration drift potentially starting in 2026. This update could significantly impact Orla’s operations by expanding its resource base and enhancing its industry positioning.

The most recent analyst rating on (TSE:OLA) stock is a Buy with a C$15.50 price target. To see the full list of analyst forecasts on Orla Mining stock, see the TSE:OLA Stock Forecast page.

Business Operations and StrategyFinancial Disclosures
Orla Mining Achieves Record Gold Production in Q2 2025
Positive
Jul 10, 2025

Orla Mining Ltd. announced a record quarterly gold production for the second quarter of 2025, driven by contributions from its Musselwhite mine in Canada. The company remains on track to meet its annual production guidance of 280,000 to 300,000 ounces of gold. During the quarter, Orla also reduced its revolving credit facility by $30 million, improving its liquidity position. This operational success is expected to bolster Orla’s standing in the gold mining industry and provide positive implications for its stakeholders.

The most recent analyst rating on (TSE:OLA) stock is a Buy with a C$9.25 price target. To see the full list of analyst forecasts on Orla Mining stock, see the TSE:OLA Stock Forecast page.

Executive/Board ChangesShareholder Meetings
Orla Mining Announces AGM Voting Results and Board Changes
Neutral
Jun 24, 2025

Orla Mining Ltd. announced the results of its Annual General and Special Meeting of Shareholders, where all nominated directors were elected to the Board. The meeting also saw the approval of Deloitte LLP as the company’s auditor, a non-binding advisory resolution on executive compensation, and amendments to the company’s stock option and restricted share unit plans. The retirement of Tim Haldane from the Board was acknowledged, highlighting his contributions to the company’s growth from a single-asset developer to a multi-asset producer.

The most recent analyst rating on (TSE:OLA) stock is a Buy with a C$19.00 price target. To see the full list of analyst forecasts on Orla Mining stock, see the TSE:OLA Stock Forecast page.

Product-Related AnnouncementsBusiness Operations and Strategy
Orla Mining Unveils Initial Underground Resource Estimate for Camino Rojo
Positive
Jun 5, 2025

Orla Mining has announced the first underground Mineral Resource estimate for its Camino Rojo deposit in Mexico, marking a significant milestone in the project’s development. The estimate includes 3.95 million ounces of measured and indicated gold resources and 0.40 million ounces of inferred gold resources. This development paves the way for future exploration and potential construction, with ongoing drilling and metallurgical work supporting the project’s advancement. The announcement underscores Orla Mining’s strategic focus on expanding its resource base and enhancing its long-term production potential at Camino Rojo.

The most recent analyst rating on (TSE:OLA) stock is a Buy with a C$7.50 price target. To see the full list of analyst forecasts on Orla Mining stock, see the TSE:OLA Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Aug 23, 2025