Brokers Issue Forecasts for Centerra Gold Inc.’s Q1 2024 Earnings (NYSE:CGAU)

Centerra Gold Inc. (NYSE:CGAU) – Stock analysts at National Bank Financial issued their Q1 2024 EPS estimates for shares of Centerra Gold in a report issued on Thursday, April 18th. National Bank Financial analyst M. Parkin expects that the company will post earnings of $0.16 per share for the quarter. National Bank Financial currently has a “Outperform Overweight” rating on the stock. The consensus estimate for Centerra Gold’s current full-year earnings is $0.51 per share. National Bank Financial also issued estimates for Centerra Gold’s FY2025 earnings at $0.34 EPS.

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

A number of other equities analysts have also recently commented on the company. CIBC lifted their price target on Centerra Gold from $9.50 to $11.00 and gave the stock an “outperformer” rating in a research note on Monday, April 15th. Raymond James lowered their price target on shares of Centerra Gold from $12.00 to $11.00 and set an “outperform” rating for the company in a report on Friday, December 29th. Finally, BMO Capital Markets began coverage on shares of Centerra Gold in a report on Wednesday, February 21st. They issued an “outperform” rating on the stock. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Centerra Gold presently has a consensus rating of “Buy” and a consensus price target of $9.78.

Centerra Gold Trading Down 2.0 %

CGAU opened at $6.07 on Monday. Centerra Gold has a 12 month low of $4.47 and a 12 month high of $7.23. The business’s 50-day moving average price is $5.62 and its 200-day moving average price is $5.55. The company has a market cap of $1.30 billion, a P/E ratio of -16.39 and a beta of 0.98.

Centerra Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 13th were issued a $0.0518 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $0.21 annualized dividend and a yield of 3.42%. This is a boost from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s payout ratio is -40.54%.

Hedge Funds Weigh In On Centerra Gold

Several hedge funds and other institutional investors have recently modified their holdings of CGAU. U S Global Investors Inc. raised its holdings in 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 purchasing an additional 456,648 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Centerra Gold by 33.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,935 shares of the company’s stock worth $265,000 after acquiring an additional 13,553 shares in the last quarter. Mackenzie Financial Corp lifted its position in Centerra Gold by 91.9% during the 3rd quarter. Mackenzie Financial Corp now owns 3,384,834 shares of the company’s stock valued at $15,775,000 after acquiring an additional 1,621,158 shares during the period. CIBC Asset Management Inc boosted its stake 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 acquiring an additional 3,640 shares in the last quarter. Finally, Versor Investments LP purchased a new stake in Centerra Gold in the third quarter worth about $52,000. 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.