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VANCOUVER - Shares of Orla Mining Ltd. (TSX:OLA) (NYSE:ORLA) reported first quarter earnings and revenue that missed analyst estimates on Monday.
The gold miner’s stock fell 9.46% in pre-market trading following the release.
Orla Mining posted a net loss of $69.8 million, or $0.22 per share, in Q1 2025 compared to net income of $17.5 million, or $0.06 per share, in the same quarter last year. Adjusted earnings came in at $38.6 million or $0.12 per share. Analysts were expecting adjusted earnings of $0.15 per share.
Revenue rose to $140.7 million from $67.3 million a year ago, falling short of the $152 million analysts were forecasting.
The company produced 47,759 ounces of gold in Q1, including 29,973 ounces from its Camino Rojo mine in Mexico and 17,786 ounces from the recently acquired Musselwhite mine in Canada. Gold sold totaled 46,356 ounces at an average realized price of $2,915 per ounce.
All-in sustaining costs at Camino Rojo were $845 per ounce sold. The company did not provide cost metrics for Musselwhite due to accounting treatments related to the acquisition.
"We are proud of the continued consistency from our team in Mexico where the Camino Rojo Mine remains a strong cash flow generator," said Jason Simpson, President and CEO of Orla Mining. "This quarter also marked a major milestone with the closing of the Musselwhite acquisition, expanding our presence in Canada, and increasing our annual gold production guidance to 280 – 300 thousand ounces."
Orla updated its 2025 production guidance to 280,000-300,000 ounces of gold, with all-in sustaining costs of $1,300-$1,500 per ounce sold. The company plans to invest $115 million in exploration and capital projects at Musselwhite to enhance future growth.
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