Why Orla Mining Stock Soared on Wednesday
Gold extraction company Orla Mining's (NYSEMKT: ORLA) certainly felt like it was worth its weight in the precious metal on Hump Day. Its shares zoomed almost 14% higher that trading session, due mostly to an estimates-topping third-quarter earnings release. With that tailwind at its back, Orla easily beat the marginal increase of the S&P 500 (SNPINDEX: ^GSPC).
Orla booked nearly $275 million in revenue for the period, filtering down into net income not according to generally accepted accounting principles (GAAP) of $73 million, or $0.22 per share. That performance compared favorably to the average analyst estimates, which were for slightly more than $248 million in revenue, and non-GAAP (adjusted) net income of $0.18 per share.
Image source: Getty Images.
Source Fool.com
