Centerra Gold Inc. (NYSE:CGAU) to Post FY2024 Earnings of $0.61 Per Share, Raymond James Forecasts

Centerra Gold Inc. (NYSE:CGAU) – Equities researchers at Raymond James upped their FY2024 EPS estimates for shares of Centerra Gold in a research note issued on Tuesday, July 2nd. Raymond James analyst B. Macarthur now forecasts that the company will post earnings of $0.61 per share for the year, up from their previous forecast of $0.60. The consensus estimate for Centerra Gold’s current full-year earnings is $0.78 per share. Raymond James also issued estimates for Centerra Gold’s FY2025 earnings at $0.17 EPS.

Centerra Gold (NYSE:CGAU) last issued its earnings results on Tuesday, May 14th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01). Centerra Gold had a net margin of 4.99% and a return on equity of 5.58%. The company had revenue of $305.88 million during the quarter. During the same period last year, the firm posted ($0.24) EPS.

A number of other analysts have also recently weighed in on CGAU. CIBC increased their price target on shares of Centerra Gold from $9.50 to $11.00 and gave the stock an “outperformer” rating in a research note on Monday, April 15th. National Bank Financial reiterated an “outperform overweight” rating on shares of Centerra Gold in a research note on Monday, April 8th. Finally, Scotiabank increased their price target on shares of Centerra Gold from $8.00 to $9.00 and gave the stock a “sector outperform” rating in a research note on Thursday, May 23rd. Four analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $9.30.

Centerra Gold Trading Up 0.7 %

Shares of Centerra Gold stock opened at $6.77 on Thursday. The company has a fifty day simple moving average of $6.75 and a 200-day simple moving average of $6.02. Centerra Gold has a 12-month low of $4.47 and a 12-month high of $7.51. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 25.07 and a beta of 0.98.

Institutional Trading of Centerra Gold

Hedge funds have recently made changes to their positions in the company. Heron Bay Capital Management acquired a new stake in shares of Centerra Gold in the 4th quarter worth $77,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Centerra Gold in the 4th quarter worth $98,000. Virtu Financial LLC acquired a new stake in shares of Centerra Gold in the 1st quarter worth $113,000. Hsbc Holdings PLC lifted its stake in shares of Centerra Gold by 134.2% in the third quarter. Hsbc Holdings PLC now owns 35,587 shares of the company’s stock valued at $174,000 after purchasing an additional 20,389 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in shares of Centerra Gold by 943.8% in the fourth quarter. Russell Investments Group Ltd. now owns 65,020 shares of the company’s stock valued at $390,000 after purchasing an additional 58,791 shares during the period. Institutional investors and hedge funds own 55.40% of the company’s stock.

Centerra Gold Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Wednesday, May 29th were paid a $0.051 dividend. This represents a $0.20 annualized dividend and a dividend yield of 3.01%. The ex-dividend date was Wednesday, May 29th. Centerra Gold’s dividend payout ratio (DPR) is presently 74.07%.

About Centerra Gold

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.