Brokers Set Expectations for Centerra Gold Inc.’s FY2024 Earnings (NYSE:CGAU)

Centerra Gold Inc. (NYSE:CGAU) – Analysts at National Bank Financial increased their FY2024 earnings per share estimates for Centerra Gold in a research report issued to clients and investors on Tuesday, August 6th. National Bank Financial analyst M. Parkin now expects that the company will post earnings per share of $0.89 for the year, up from their previous estimate of $0.74. The consensus estimate for Centerra Gold’s current full-year earnings is $0.75 per share. National Bank Financial also issued estimates for Centerra Gold’s FY2026 earnings at $0.51 EPS.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.07. The company had revenue of $282.31 million for the quarter. Centerra Gold had a return on equity of 10.77% and a net margin of 10.68%. During the same period in the previous year, the business posted ($0.20) EPS.

A number of other research firms have also issued reports on CGAU. CIBC reissued 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 lowered Centerra Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 10th. Finally, Scotiabank raised their price objective on shares of Centerra Gold from $8.00 to $9.00 and gave the company a “sector outperform” rating in a research report on Thursday, May 23rd. Two investment 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 stock has an average rating of “Moderate Buy” and a consensus price target of $9.80.

Centerra Gold Trading Down 1.2 %

Shares of NYSE CGAU traded down $0.08 during midday trading on Thursday, reaching $6.47. 295,259 shares of the company were exchanged, compared to its average volume of 501,751. Centerra Gold has a 1 year low of $4.47 and a 1 year high of $7.51. The stock has a fifty day simple moving average of $6.75 and a 200 day simple moving average of $6.19. The stock has a market cap of $1.38 billion, a P/E ratio of 23.96 and a beta of 0.98.

Centerra Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.051 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.15%. Centerra Gold’s payout ratio is 74.07%.

Institutional Investors Weigh In On Centerra Gold

Hedge funds and other institutional investors have recently modified their holdings of the stock. Donald Smith & CO. Inc. increased its stake in shares of Centerra Gold by 27.9% during the 4th quarter. Donald Smith & CO. Inc. now owns 9,879,956 shares of the company’s stock worth $58,885,000 after purchasing an additional 2,156,920 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Centerra Gold by 2.8% during the 3rd quarter. Vanguard Group Inc. now owns 8,031,893 shares of the company’s stock worth $39,356,000 after purchasing an additional 220,263 shares in the last quarter. Quadrature Capital Ltd increased its stake in shares of Centerra Gold by 118.5% during the 1st quarter. Quadrature Capital Ltd now owns 295,800 shares of the company’s stock worth $1,742,000 after purchasing an additional 160,400 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Centerra Gold by 309.6% during the 1st quarter. Acadian Asset Management LLC now owns 1,275,800 shares of the company’s stock worth $7,527,000 after purchasing an additional 964,294 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of Centerra Gold by 80.0% during the 1st quarter. Russell Investments Group Ltd. now owns 117,034 shares of the company’s stock worth $692,000 after purchasing an additional 52,014 shares in the last quarter. 55.40% of the stock is currently owned by institutional investors and hedge funds.

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.