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

Centerra Gold Inc. (NYSE:CGAU) – Research analysts at Cormark cut their Q1 2024 earnings per share estimates for Centerra Gold in a research report issued to clients and investors on Monday, April 22nd. Cormark analyst R. Gray now anticipates 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.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.28 EPS 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 company had revenue of $340.00 million during the quarter.

Other analysts also recently issued research reports about the company. Raymond James decreased their target price on Centerra Gold from $12.00 to $11.00 and set an “outperform” rating on the stock in a research note on Friday, December 29th. National Bank Financial reissued an “outperform overweight” rating on shares of Centerra Gold in a research note on Monday, April 8th. BMO Capital Markets initiated coverage on Centerra Gold in a research note on Wednesday, February 21st. They set an “outperform” rating on the stock. Finally, CIBC lifted their target price on Centerra Gold from $9.50 to $11.00 and gave the company an “outperformer” rating in a research note on Monday, April 15th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $9.78.

Centerra Gold Stock Up 4.4 %

NYSE CGAU opened at $6.34 on Wednesday. The stock’s 50-day moving average price is $5.66 and its 200-day moving average price is $5.56. Centerra Gold has a 52 week low of $4.47 and a 52 week high of $7.23. The company has a market capitalization of $1.36 billion, a P/E ratio of -17.13 and a beta of 0.98.

Institutional Trading of Centerra Gold

A number of large investors have recently added to or reduced their stakes in CGAU. Versor Investments LP bought a new stake in Centerra Gold in the 3rd quarter worth approximately $52,000. Heron Bay Capital Management purchased a new position in shares of Centerra Gold in the 4th quarter worth approximately $77,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Centerra Gold in the 4th quarter worth approximately $98,000. Hsbc Holdings PLC boosted its holdings in shares of Centerra Gold by 134.2% in the 3rd quarter. Hsbc Holdings PLC now owns 35,587 shares of the company’s stock worth $174,000 after purchasing an additional 20,389 shares during the period. Finally, Insigneo Advisory Services LLC purchased a new position in shares of Centerra Gold in the 3rd quarter worth approximately $223,000. Institutional investors own 55.40% of the company’s stock.

Centerra Gold Increases Dividend

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

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.