Orla Mining Ltd.’s ORLA Camino Rojo Mine in Mexico faced a four-day production halt due to an illegal worker blockade. The dispute was due to disagreements over two worker payments — a productivity bonus and a profit-sharing entitlement (PTU). Although Orla Mining stated that it had already paid the maximum PTU amount legally required in Mexico, union members objected to the payout during bonus negotiations and initiated the blockade.
Operations were restored on June 5 after federal labor intervention, with the company stating that it will continue productivity bonus negotiations. Despite the halt, Orla Mining reiterates its 2026 production guidance for Camino Rojo to be 110,000-120,000 ounces of gold.
In the first quarter of 2026, Orla Mining announced favorable Preliminary Economic Assessment results for its underground project at the Camino Rojo Mine, which evaluated the technical and economic feasibility of establishing a standalone underground development project beneath the existing Camino Rojo open pit. This positions the mine toward a larger-scale, long-life operation.
The company also received a key environmental permit for Camino Rojo, securing all necessary approvals to mine the remainder of the oxide open-pit, including the layback area and initiate the underground exploration decline.
Orla Mining recently inked a merger deal with Equinox Gold Corp. EQX, which is expected to create a senior North American gold producer. The Camino Rojo Mine is expected to be one of the cornerstone assets for the merged company. Orla Mining’s Camino Rojo Mine, combined with Equinox Gold’s Valentine, South Railroad and Castle Mountain, and Los Filos, is on track to deliver more than 800,000 ounces of near-term gold production growth in North America.
The expected total gold output for the Orla mining-Equinox Gold merged company is expected to reach 1.1 million ounces from a highly complementary portfolio of six North American mines, surpassing the likes of Coeur Mining, Inc. CDE and Alamos Gold Inc. AGI.
Coeur Mining acquired New Gold in March 2026, which added the New Afton and Rainy River Mines to its portfolio, and diversified its production profile across gold, silver and copper. The Rainy River Mine emerged as a significant contributor to Coeur Mining in the first quarter of 2026.
Alamos Gold acquired its rival Argonaut Gold in 2024. This move granted AGI access to Argonaut's Magino Mine, which is adjacent to Island Gold Mine in Ontario, Canada. Alamos Gold remains focused on high-return growth projects. The company’s Island Gold Phase 3+ Expansion in Canada is currently in progress, with completion expected in late 2026. The project aims to design infrastructure that will increase underground mining rates to 3,000 tons per day.
ORLA’s Price Performance, Valuations & Estimates
Orla Mining’s stock has inched up 0.2% in a year compared with the Zacks Mining – Gold industry’s 51.6% rise. During this time, the Basic Materials sector has jumped 40.3%, whereas the S&P 500 has returned 29.9%.
The stock is currently trading at a forward 12-month earnings multiple of 6.23X, which is at a discount to the industry’s average of 10.09X.
The Zacks Consensus Estimate for Orla Mining’s 2026 sales is $1.72 billion, indicating a 62% year-over-year jump. The consensus mark for the year’s earnings is pegged at $1.64 per share, suggesting a year-over-year upsurge of 82%.
The Zacks Consensus Estimate for 2027 sales implies a 0.2% year-over-year rise. The same for earnings suggests an escalation of 3.1%.
EPS estimates for 2026 have moved 5.1% north over the past 60 days, while the same for 2027 has moved up 5.6% over the past 60 days.
The company currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Coeur Mining, Inc. (CDE): Free Stock Analysis Report
Alamos Gold Inc. (AGI): Free Stock Analysis Report
Equinox Gold Corp. (EQX): Free Stock Analysis Report
Orla Mining Ltd. (ORLA): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).