FY2024 EPS Estimates for Centerra Gold Raised by Analyst

Centerra Gold Inc. (NYSE:CGAU) – Research analysts at Scotiabank boosted their FY2024 earnings per share estimates for shares of Centerra Gold in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst O. Habib now expects that the company will post earnings per share of $0.75 for the year, up from their prior estimate of $0.69. The consensus estimate for Centerra Gold’s current full-year earnings is $0.79 per share. Scotiabank also issued estimates for Centerra Gold’s FY2026 earnings at $0.63 EPS.

Centerra Gold (NYSE:CGAU) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The business had revenue of $323.93 million during the quarter. Centerra Gold had a net margin of 8.31% and a return on equity of 10.34%. During the same quarter in the previous year, the company earned $0.20 earnings per share.

Separately, Desjardins upgraded Centerra Gold to a “moderate buy” rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Centerra Gold has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

Centerra Gold Price Performance

Centerra Gold stock opened at $5.83 on Friday. The stock’s 50 day moving average price is $5.94 and its 200 day moving average price is $6.60. The company has a market cap of $1.22 billion, a PE ratio of 12.15 and a beta of 0.90. Centerra Gold has a 1-year low of $4.47 and a 1-year high of $7.82.

Centerra Gold Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a dividend of $0.052 per share. The ex-dividend date was Wednesday, November 13th. This represents a $0.21 dividend on an annualized basis and a yield of 3.57%. This is a boost from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s payout ratio is presently 43.75%.

Institutional Trading of Centerra Gold

Several institutional investors and hedge funds have recently modified their holdings of CGAU. Bank of Montreal Can raised its stake in Centerra Gold by 158.9% in the 2nd quarter. Bank of Montreal Can now owns 2,433,241 shares of the company’s stock valued at $16,881,000 after purchasing an additional 1,493,349 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Centerra Gold by 36.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,390,005 shares of the company’s stock valued at $31,514,000 after buying an additional 1,175,000 shares during the last quarter. American Century Companies Inc. raised its position in shares of 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 buying an additional 1,047,142 shares during the last quarter. Mackenzie Financial Corp lifted its stake in shares of Centerra Gold by 111.3% during the second quarter. Mackenzie Financial Corp now owns 1,493,717 shares of the company’s stock valued at $10,046,000 after buying an additional 786,688 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in Centerra Gold during the third quarter worth approximately $4,454,000. Hedge funds and other institutional investors own 55.40% of the company’s stock.

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.