Centerra Gold Inc. to Post Q2 2023 Earnings of $0.16 Per Share, Cormark Forecasts (NYSE:CGAU)

Centerra Gold Inc. (NYSE:CGAU – Get Rating) – Investment analysts at Cormark lowered their Q2 2023 earnings per share (EPS) estimates for shares of Centerra Gold in a note issued to investors on Wednesday, January 18th. Cormark analyst R. Gray now expects that the company will earn $0.16 per share for the quarter, down from their prior estimate of $0.19. The consensus estimate for Centerra Gold’s current full-year earnings is ($0.07) per share. Cormark also issued estimates for Centerra Gold’s Q3 2023 earnings at $0.16 EPS, Q4 2023 earnings at $0.16 EPS, FY2023 earnings at $0.45 EPS and FY2024 earnings at $0.77 EPS.

Centerra Gold (NYSE:CGAU – Get Rating) last issued its quarterly earnings data on Monday, November 7th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The company had revenue of $179.01 million for the quarter. Centerra Gold had a net margin of 36.71% and a return on equity of 1.92%.

Other research analysts have also issued research reports about the company. Raymond James lowered their price objective on Centerra Gold from C$10.50 to C$10.00 in a report on Wednesday, November 9th. National Bank Financial raised their target price on Centerra Gold from C$10.50 to C$11.50 in a report on Friday, January 13th. Finally, TD Securities raised their target price on Centerra Gold from C$7.00 to C$7.50 in a report on Tuesday, November 8th.

Centerra Gold Stock Performance

Shares of NYSE CGAU opened at $6.15 on Friday. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 5.75 and a beta of 0.61. The business’s 50-day simple moving average is $5.37 and its 200-day simple moving average is $5.14. Centerra Gold has a 52 week low of $3.77 and a 52 week high of $10.57.

Centerra Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 2nd. Shareholders of record on Friday, November 18th were given a $0.051 dividend. The ex-dividend date was Thursday, November 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.32%. Centerra Gold’s dividend payout ratio is currently 19.63%.

Institutional Trading of Centerra Gold

Hedge funds have recently modified their holdings of the company. Barclays PLC bought a new stake in shares of Centerra Gold in the 3rd quarter worth approximately $41,000. Brinker Capital Investments LLC bought a new position in shares of Centerra Gold during the 3rd quarter worth approximately $62,000. Great West Life Assurance Co. Can lifted its position in shares of Centerra Gold by 31.5% during the 3rd quarter. Great West Life Assurance Co. Can now owns 17,862 shares of the company’s stock worth $78,000 after buying an additional 4,281 shares during the period. PDT Partners LLC bought a new position in shares of Centerra Gold during the 3rd quarter worth approximately $87,000. Finally, UBS Group AG lifted its position in shares of Centerra Gold by 431.3% during the 3rd quarter. UBS Group AG now owns 22,537 shares of the company’s stock worth $99,000 after buying an additional 18,295 shares during the period. Institutional investors own 51.63% of the company’s stock.

Centerra Gold Company Profile

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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 include the 100% owned Mount Milligan gold-copper mine located in British Columbia, Canada; and the Öksüt Gold Mine located in Turkey.