Brokers Set Expectations for Centerra Gold Inc.’s FY2024 Earnings (NYSE:CGAU)

Centerra Gold Inc. (NYSE:CGAU) – Stock analysts at National Bank Financial boosted their FY2024 earnings per share (EPS) estimates for Centerra Gold in a research report issued to clients and investors on Tuesday, August 6th. National Bank Financial analyst M. Parkin now forecasts that the company will earn $0.89 per share for the year, up from their prior forecast of $0.74. The consensus estimate for Centerra Gold’s current full-year earnings is $0.75 per share. National Bank Financial also issued estimates for Centerra Gold’s FY2026 earnings at $0.51 EPS.

CGAU has been the subject of a number of other research reports. Scotiabank upped their target price on Centerra Gold from $8.00 to $9.00 and gave the company a “sector outperform” rating in a report on Thursday, May 23rd. Cibc World Mkts downgraded Centerra Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 10th. Finally, CIBC reiterated a “neutral” rating and issued a $13.00 price objective (up previously from $11.00) on shares of Centerra Gold in a report on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $9.80.

Centerra Gold Stock Performance

Shares of Centerra Gold stock traded down $0.08 during midday trading on Thursday, reaching $6.47. 295,259 shares of the company’s stock traded hands, compared to its average volume of 501,751. The company has a market cap of $1.38 billion, a PE ratio of 23.96 and a beta of 0.98. The stock has a 50 day moving average of $6.75 and a 200-day moving average of $6.19. Centerra Gold has a 12 month low of $4.47 and a 12 month high of $7.51.

Centerra Gold (NYSE:CGAU) last announced its earnings results on Thursday, August 1st. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.07. The company had revenue of $282.31 million during the quarter. Centerra Gold had a return on equity of 10.77% and a net margin of 10.68%. During the same quarter in the prior year, the company earned ($0.20) EPS.

Hedge Funds Weigh In On Centerra Gold

Institutional investors and hedge funds have recently modified their holdings of the stock. Donald Smith & CO. Inc. increased its holdings in shares of Centerra Gold by 27.9% during the fourth quarter. Donald Smith & CO. Inc. now owns 9,879,956 shares of the company’s stock valued at $58,885,000 after acquiring an additional 2,156,920 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Centerra Gold by 2.8% during the third quarter. Vanguard Group Inc. now owns 8,031,893 shares of the company’s stock valued at $39,356,000 after buying an additional 220,263 shares during the last quarter. Quadrature Capital Ltd boosted its position in shares of Centerra Gold by 118.5% during the first quarter. Quadrature Capital Ltd now owns 295,800 shares of the company’s stock valued at $1,742,000 after buying an additional 160,400 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Centerra Gold by 309.6% during the first quarter. Acadian Asset Management LLC now owns 1,275,800 shares of the company’s stock valued at $7,527,000 after buying an additional 964,294 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Centerra Gold by 80.0% during the first quarter. Russell Investments Group Ltd. now owns 117,034 shares of the company’s stock valued at $692,000 after buying an additional 52,014 shares during the last quarter. 55.40% of the stock is currently owned by institutional investors.

Centerra Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.051 per share. The ex-dividend date is Thursday, August 15th. This represents a $0.20 annualized dividend and a dividend yield of 3.15%. Centerra Gold’s payout ratio 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.