Research Analysts Issue Forecasts for Centerra Gold Inc.’s Q3 2024 Earnings (NYSE:CGAU)

Centerra Gold Inc. (NYSE:CGAU) – Analysts at Raymond James increased their Q3 2024 earnings estimates for shares of Centerra Gold in a research report issued to clients and investors on Monday, September 23rd. Raymond James analyst B. Macarthur now anticipates that the company will earn $0.20 per share for the quarter, up from their previous forecast of $0.16. The consensus estimate for Centerra Gold’s current full-year earnings is $0.82 per share. Raymond James also issued estimates for Centerra Gold’s Q1 2025 earnings at $0.12 EPS, Q2 2025 earnings at $0.12 EPS, Q3 2025 earnings at $0.12 EPS, Q4 2025 earnings at $0.12 EPS and FY2025 earnings at $0.49 EPS.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.07. Centerra Gold had a return on equity of 10.72% and a net margin of 10.68%. The firm had revenue of $282.31 million for the quarter. During the same period in the prior year, the firm earned ($0.20) earnings per share.

CGAU has been the subject of a number of other research reports. CIBC restated a “neutral” rating and set a $13.00 price target (up previously from $11.00) on shares of Centerra Gold in a report on Wednesday, July 10th. Cibc World Mkts downgraded Centerra Gold from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $11.00.

Centerra Gold Stock Performance

Shares of Centerra Gold stock opened at $7.42 on Thursday. The business’s 50 day moving average price is $6.89 and its 200 day moving average price is $6.63. The company has a market cap of $1.58 billion, a price-to-earnings ratio of 27.48 and a beta of 0.98. Centerra Gold has a one year low of $4.47 and a one year high of $7.82.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC grew its stake in Centerra Gold by 594.6% during the 2nd quarter. Acadian Asset Management LLC now owns 8,862,170 shares of the company’s stock worth $59,532,000 after purchasing an additional 7,586,370 shares in the last quarter. Pale Fire Capital SE increased its stake in Centerra Gold by 1,136.9% in the fourth quarter. Pale Fire Capital SE now owns 1,807,787 shares of the company’s stock valued at $10,774,000 after purchasing an additional 1,661,638 shares during the last quarter. Van ECK Associates Corp raised its holdings in Centerra Gold by 7.6% during the first quarter. Van ECK Associates Corp now owns 22,034,754 shares of the company’s stock worth $130,191,000 after purchasing an additional 1,552,601 shares in the last quarter. Bank of Montreal Can raised its holdings in Centerra Gold by 158.9% during the second quarter. Bank of Montreal Can now owns 2,433,241 shares of the company’s stock worth $16,881,000 after purchasing an additional 1,493,349 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in Centerra Gold by 132.8% in the second quarter. American Century Companies Inc. now owns 1,835,673 shares of the company’s stock valued at $12,345,000 after acquiring an additional 1,047,142 shares during the last quarter. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

Centerra Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were given a dividend of $0.051 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.75%. Centerra Gold’s payout ratio is currently 74.07%.

Centerra Gold Company Profile

Centerra Gold Inc, a gold mining company, engages in the acquisition, exploration, development, and operation of gold and copper properties in North America, Turkey, and internationally. The company explores for gold, copper, and molybdenum deposits. Its flagship projects are the 100% owned Mount Milligan gold-copper mine located in British Columbia, Canada; and the Öksüt gold mine located in Turkey.