Raymond James Brokers Raise Earnings Estimates for Centerra Gold Inc. (TSE:CG)

Centerra Gold Inc. (TSE:CG) – Analysts at Raymond James increased their Q2 2024 earnings estimates for shares of Centerra Gold in a research report issued on Tuesday, April 23rd. Raymond James analyst B. Macarthur now expects that the company will earn $0.29 per share for the quarter, up from their previous estimate of $0.12. The consensus estimate for Centerra Gold’s current full-year earnings is $0.41 per share. Raymond James also issued estimates for Centerra Gold’s Q3 2024 earnings at $0.18 EPS, Q4 2024 earnings at $0.18 EPS and FY2024 earnings at $0.78 EPS.

Centerra Gold (TSE:CG) last posted its quarterly earnings results on Thursday, February 22nd. The company reported C$0.38 EPS for the quarter, missing analysts’ consensus estimates of C$0.39 by C($0.01). The firm had revenue of C$462.92 million for the quarter. Centerra Gold had a negative net margin of 7.42% and a negative return on equity of 4.66%.

Several other research analysts have also recently weighed in on the company. Canaccord Genuity Group boosted their price target on Centerra Gold from C$10.75 to C$11.00 in a research note on Tuesday. Bank of America boosted their target price on Centerra Gold from C$7.55 to C$8.50 in a research report on Tuesday, April 9th. Desjardins dropped their price target on shares of Centerra Gold from C$12.00 to C$11.75 and set a “buy” rating on the stock in a report on Tuesday, January 9th. National Bank Financial reissued an “outperform overweight” rating on shares of Centerra Gold in a report on Monday, April 8th. Finally, National Bankshares increased their price objective on shares of Centerra Gold from C$10.50 to C$11.00 in a research report on Friday, April 19th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Centerra Gold presently has an average rating of “Buy” and a consensus target price of C$10.57.

Centerra Gold Stock Performance

CG stock opened at C$8.68 on Friday. The stock’s 50 day simple moving average is C$7.79 and its 200 day simple moving average is C$7.56. The company has a current ratio of 3.25, a quick ratio of 3.24 and a debt-to-equity ratio of 1.45. Centerra Gold has a 12-month low of C$6.07 and a 12-month high of C$9.67. The stock has a market capitalization of C$1.87 billion, a PE ratio of -16.69, a price-to-earnings-growth ratio of 1.26 and a beta of 1.16.

Insiders Place Their Bets

In related news, Senior Officer Darren Millman sold 110,274 shares of Centerra Gold stock in a transaction on Friday, March 1st. The stock was sold at an average price of C$6.96, for a total transaction of C$766,955.67. Insiders own 0.38% of the company’s stock.

Centerra Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 27th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $0.28 dividend on an annualized basis and a yield of 3.23%. Centerra Gold’s dividend payout ratio is currently -53.85%.

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.