Q1 2024 Earnings Forecast for Centerra Gold Inc. Issued By Cormark (NYSE:CGAU)

Centerra Gold Inc. (NYSE:CGAU) – Cormark dropped their Q1 2024 earnings per share (EPS) estimates for Centerra Gold in a research report issued to clients and investors on Monday, April 22nd. Cormark analyst R. Gray now expects that the company will post earnings per share of $0.13 for the quarter, down from their previous forecast of $0.34. The consensus estimate for Centerra Gold’s current full-year earnings is $0.51 per share.

Several other brokerages have also commented on CGAU. CIBC raised their price objective on Centerra Gold from $9.50 to $11.00 and gave the company an “outperformer” rating in a report on Monday, April 15th. BMO Capital Markets assumed coverage on Centerra Gold in a report on Wednesday, February 21st. They issued an “outperform” rating on the stock. National Bank Financial reissued an “outperform overweight” rating on shares of Centerra Gold in a report on Monday, April 8th. Finally, Raymond James dropped their price objective on Centerra Gold from $12.00 to $11.00 and set an “outperform” rating on the stock in a report on Friday, December 29th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $9.78.

Centerra Gold Stock Up 4.4 %

Centerra Gold stock opened at $6.34 on Wednesday. Centerra Gold has a 52 week low of $4.47 and a 52 week high of $7.23. The business’s 50-day moving average price is $5.66 and its 200 day moving average price is $5.56. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of -17.13 and a beta of 0.98.

Centerra Gold (NYSE:CGAU) last posted its earnings results on Thursday, February 22nd. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.01). The company had revenue of $340.00 million for the quarter. Centerra Gold had a positive return on equity of 0.62% and a negative net margin of 7.43%.

Institutional Trading of Centerra Gold

A number of institutional investors have recently made changes to their positions in CGAU. U S Global Investors Inc. boosted its stake in shares of Centerra Gold by 246.8% in the third quarter. U S Global Investors Inc. now owns 641,648 shares of the company’s stock worth $3,138,000 after acquiring an additional 456,648 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Centerra Gold by 33.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,935 shares of the company’s stock worth $265,000 after buying an additional 13,553 shares in the last quarter. Mackenzie Financial Corp lifted its position in Centerra Gold by 91.9% during the third quarter. Mackenzie Financial Corp now owns 3,384,834 shares of the company’s stock worth $15,775,000 after buying an additional 1,621,158 shares in the last quarter. CIBC Asset Management Inc lifted its position in Centerra Gold by 1.8% during the third quarter. CIBC Asset Management Inc now owns 207,198 shares of the company’s stock worth $1,016,000 after buying an additional 3,640 shares in the last quarter. Finally, Versor Investments LP purchased a new position in Centerra Gold during the third quarter worth approximately $52,000. 55.40% of the stock is owned by institutional investors and hedge funds.

Centerra Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 13th were paid a $0.0518 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This is a positive change from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.21 dividend on an annualized basis and a dividend yield of 3.27%. Centerra Gold’s payout ratio is currently -43.24%.

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.