FY2024 Earnings Estimate for Centerra Gold Issued By Cormark

Centerra Gold Inc. (NYSE:CGAU) – Research analysts at Cormark decreased their FY2024 earnings estimates for Centerra Gold in a research note issued on Tuesday, November 5th. Cormark analyst R. Gray now forecasts that the company will earn $0.79 per share for the year, down from their previous forecast of $0.88. The consensus estimate for Centerra Gold’s current full-year earnings is $0.84 per share. Cormark also issued estimates for Centerra Gold’s Q4 2024 earnings at $0.24 EPS.

CGAU has been the topic of a number of other reports. CIBC restated a “neutral” rating and issued a $13.00 target price (up from $11.00) on shares of Centerra Gold in a report on Wednesday, July 10th. Cibc World Mkts downgraded shares of Centerra Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Finally, Desjardins raised shares of Centerra Gold to a “moderate buy” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.00.

Centerra Gold Stock Down 2.4 %

CGAU opened at $6.21 on Thursday. The firm has a market cap of $1.31 billion, a P/E ratio of 12.93 and a beta of 0.98. The business’s fifty day simple moving average is $7.03 and its 200 day simple moving average is $6.86. Centerra Gold has a 52 week low of $4.47 and a 52 week high of $7.82.

Centerra Gold (NYSE:CGAU) last announced its earnings results on Thursday, October 31st. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Centerra Gold had a net margin of 8.31% and a return on equity of 10.34%. The company had revenue of $323.93 million for the quarter. During the same quarter in the previous year, the business posted $0.20 EPS.

Centerra Gold Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a $0.052 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This is a boost from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.21 annualized dividend and a dividend yield of 3.35%. Centerra Gold’s dividend payout ratio (DPR) is currently 41.67%.

Institutional Investors Weigh In On Centerra Gold

Institutional investors have recently bought and sold shares of the stock. Plato Investment Management Ltd acquired a new position in shares of Centerra Gold in the 3rd quarter valued at $412,000. Versor Investments LP lifted its stake in shares of Centerra Gold by 40.9% in the 3rd quarter. Versor Investments LP now owns 146,700 shares of the company’s stock valued at $1,053,000 after purchasing an additional 42,600 shares in the last quarter. Old West Investment Management LLC lifted its stake in shares of Centerra Gold by 100.0% in the 3rd quarter. Old West Investment Management LLC now owns 400,000 shares of the company’s stock valued at $2,864,000 after purchasing an additional 200,000 shares in the last quarter. Integrated Advisors Network LLC purchased a new stake in shares of Centerra Gold during the 3rd quarter worth about $367,000. Finally, Semanteon Capital Management LP increased its position in Centerra Gold by 152.3% during the 3rd quarter. Semanteon Capital Management LP now owns 46,972 shares of the company’s stock worth $336,000 after purchasing an additional 28,358 shares in the last quarter. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

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.