Desjardins Weighs in on Centerra Gold Inc.’s Q1 2024 Earnings (NYSE:CGAU)

Centerra Gold Inc. (NYSE:CGAU) – Stock analysts at Desjardins issued their Q1 2024 EPS estimates for shares of Centerra Gold in a note issued to investors on Tuesday, April 23rd. Desjardins analyst J. Sclodnick expects that the company will post earnings of $0.17 per share for the quarter. The consensus estimate for Centerra Gold’s current full-year earnings is $0.49 per share.

Centerra Gold (NYSE:CGAU) last posted its 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). The business had revenue of $340.00 million for the quarter. Centerra Gold had a negative net margin of 7.43% and a positive return on equity of 0.62%.

CGAU has been the topic of a number of other research reports. Raymond James cut their price objective on shares of Centerra Gold from $12.00 to $11.00 and set an “outperform” rating on the stock in a report on Friday, December 29th. National Bank Financial reiterated an “outperform overweight” rating on shares of Centerra Gold in a report on Monday, April 8th. BMO Capital Markets started coverage on shares of Centerra Gold in a report on Wednesday, February 21st. They issued an “outperform” rating on the stock. Finally, CIBC boosted their price objective on shares of Centerra Gold from $9.50 to $11.00 and gave the stock an “outperformer” rating in a report on Monday, April 15th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Centerra Gold presently has a consensus rating of “Buy” and a consensus target price of $9.78.

Centerra Gold Price Performance

Shares of CGAU stock opened at $6.22 on Thursday. Centerra Gold has a 12 month low of $4.47 and a 12 month high of $7.23. The firm has a market capitalization of $1.34 billion, a P/E ratio of -16.80 and a beta of 0.98. The company’s fifty day moving average price is $5.68 and its two-hundred day moving average price is $5.56.

Centerra Gold Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 13th were given a $0.0518 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $0.21 annualized dividend and a dividend yield of 3.33%. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s payout ratio is presently -43.24%.

Institutional Investors Weigh In On Centerra Gold

Hedge funds and other institutional investors have recently modified their holdings of the stock. Versor Investments LP bought a new stake in shares of Centerra Gold in the 3rd quarter worth about $52,000. Heron Bay Capital Management bought a new stake in shares of Centerra Gold in the 4th quarter worth about $77,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Centerra Gold during the 4th quarter valued at about $98,000. Hsbc Holdings PLC grew its position in shares of Centerra Gold by 134.2% during the 3rd quarter. Hsbc Holdings PLC now owns 35,587 shares of the company’s stock valued at $174,000 after buying an additional 20,389 shares during the last quarter. Finally, Insigneo Advisory Services LLC bought a new stake in shares of Centerra Gold during the 3rd quarter valued at about $223,000. Institutional investors own 55.40% of the company’s stock.

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.