11:33 AM EDT, 08/13/2024 (MT Newswires) -- Orla Mining ( ORLA ) late on Monday reported higher second-quarter adjusted earnings as revenue increased.

Second-quarter adjusted earnings came in at US$23 million, or US$0.07 per share, up from US$14 million, or US$0.05, in the year-prior quarter. The result matched the S&P Capital IQ consensus estimate of US$0.07 per share for the quarter.

Revenue rose to US$84.6 million from US$59.3 million.

The company sold 34,875 ounces of gold in the quarter, an increase from 29,773 ounces of gold. Orla produced 33,206 ounces of gold.

The company raised its full-year gold production guidance to a range of 120,000 to 130,000 ounces from its initial guidance range of 100,000 to 110,000 ounces.

Orla also lowered its all-in sustaining cost guidance for the full year to a range of $800 to $900 per ounce of gold sold from the original guidance of $875 to $975 per ounce.

Orla shares were last seen up $0.21 to $5.19 on the Toronto Stock Exchange.

Price: 5.19, Change: +0.21, Percent Change: +4.22