Canada's Orla Mining Q1 revenue surges on Musselwhite acquisition

Overview

• Canada gold miner's Q1 revenue surged yr/yr, driven by Musselwhite mine acquisition

• Adjusted EPS for Q1 rose to $0.39 from $0.12 a year ago

• Company declared a quarterly dividend of $0.015 per share

Outlook

• Orla Mining maintains 2026 gold production guidance of 340,000–360,000 ounces

• Company expects 2026 all-in sustaining cost at $1,550–$1,750/oz

• Orla targets mid-2026 construction start for South Railroad Project, pending permitting

Result Drivers

• MUSSELWHITE OUTPUT - Musselwhite mine drove Q1 results, exceeding production targets due to access to higher-grade ore earlier in the year through mine plan resequencing

• DEVELOPMENT EXECUTION - Increased development rates and reliable equipment at Musselwhite supported strong operational performance

• DIESEL COSTS - Higher energy prices modestly increased all-in sustaining costs, but fuel availability was not an issue

Company press release: ID:nCNW7yPmsa

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the gold peer group is "buy"

• Wall Street's median 12-month price target for Orla Mining Ltd is C$32.00, about 55.9% above its May 8 closing price of C$20.53

• The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 10 three months ago

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