Q2 2024 EPS Estimates for Centerra Gold Inc. Lifted by Analyst (NYSE:CGAU)

Centerra Gold Inc. (NYSE:CGAU) – Equities research analysts at Raymond James boosted their Q2 2024 earnings per share estimates for shares of Centerra Gold in a report issued on Tuesday, April 23rd. Raymond James analyst B. Macarthur now expects that the company will post earnings of $0.21 per share for the quarter, up from their prior estimate of $0.09. The consensus estimate for Centerra Gold’s current full-year earnings is $0.55 per share. Raymond James also issued estimates for Centerra Gold’s Q3 2024 earnings at $0.13 EPS, Q4 2024 earnings at $0.13 EPS and FY2024 earnings at $0.57 EPS.

A number of other equities research analysts have also issued reports on CGAU. National Bank Financial reissued an “outperform overweight” rating on shares of Centerra Gold in a research note on Monday, April 8th. BMO Capital Markets began coverage on shares of Centerra Gold in a research note on Wednesday, February 21st. They set an “outperform” rating for the company. Finally, CIBC raised 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. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $9.78.

Centerra Gold Price Performance

Shares of NYSE CGAU opened at $6.36 on Friday. Centerra Gold has a 1 year low of $4.47 and a 1 year high of $7.08. The firm has a 50-day simple moving average of $5.73 and a two-hundred day simple moving average of $5.59. The company has a market cap of $1.37 billion, a P/E ratio of -17.19 and a beta of 0.98.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). The firm 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%.

Centerra Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Investors 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 yield of 3.26%. Centerra Gold’s dividend payout ratio is -43.24%.

Institutional Investors Weigh In On Centerra Gold

Several hedge funds have recently modified their holdings of the business. Donald Smith & CO. Inc. lifted 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 during the last quarter. Pale Fire Capital SE lifted its position in shares of Centerra Gold by 1,136.9% during the fourth quarter. Pale Fire Capital SE now owns 1,807,787 shares of the company’s stock valued at $10,774,000 after buying an additional 1,661,638 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Centerra Gold by 91.9% in the 3rd quarter. Mackenzie Financial Corp now owns 3,384,834 shares of the company’s stock valued at $15,775,000 after buying an additional 1,621,158 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in shares of Centerra Gold in the 4th quarter worth approximately $9,540,000. Finally, Ruffer LLP raised its stake in shares of Centerra Gold by 18.5% during the 3rd quarter. Ruffer LLP now owns 8,547,150 shares of the company’s stock worth $42,371,000 after acquiring an additional 1,331,400 shares in the last quarter. Hedge funds and other institutional investors own 55.40% of the company’s stock.

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.