Centerra Gold Inc. Forecasted to Post Q1 2024 Earnings of $0.17 Per Share (NYSE:CGAU)

Centerra Gold Inc. (NYSE:CGAU) – Research analysts at Desjardins issued their Q1 2024 earnings estimates for Centerra Gold in a note issued to investors on Tuesday, April 23rd. Desjardins analyst J. Sclodnick forecasts 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 announced its earnings results on Thursday, February 22nd. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates 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.

Several other equities research analysts have also recently commented on CGAU. BMO Capital Markets assumed coverage on shares of Centerra Gold in a research report on Wednesday, February 21st. They set an “outperform” rating for the company. National Bank Financial reiterated an “outperform overweight” rating on shares of Centerra Gold in a research report on Monday, April 8th. 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 research report on Friday, December 29th. Finally, CIBC lifted their price target on shares of Centerra Gold from $9.50 to $11.00 and gave the stock an “outperformer” rating in a research report on Monday, April 15th. Five equities 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 a consensus price target of $9.78.

Centerra Gold Trading Up 1.1 %

Shares of NYSE CGAU opened at $6.36 on Thursday. Centerra Gold has a 1-year low of $4.47 and a 1-year high of $7.08. The company has a market cap of $1.37 billion, a PE ratio of -17.19 and a beta of 0.98. The company has a 50-day moving average of $5.73 and a two-hundred day moving average of $5.58.

Centerra Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 13th were issued a dividend of $0.0518 per share. The ex-dividend date was Tuesday, March 12th. This represents a $0.21 dividend on an annualized basis and a yield of 3.26%. This is a boost from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s payout ratio is currently -43.24%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp boosted its holdings in shares of Centerra Gold by 1.2% in the fourth quarter. Van ECK Associates Corp now owns 20,482,153 shares of the company’s stock valued at $122,339,000 after buying an additional 244,155 shares during the period. Donald Smith & CO. Inc. boosted its holdings in shares of Centerra Gold by 27.9% in the fourth quarter. Donald Smith & CO. Inc. now owns 9,879,956 shares of the company’s stock valued at $58,885,000 after buying an additional 2,156,920 shares during the period. Ruffer LLP boosted its holdings in shares of Centerra Gold by 18.5% in the third quarter. Ruffer LLP now owns 8,547,150 shares of the company’s stock valued at $42,371,000 after buying an additional 1,331,400 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Centerra Gold by 2.8% in the third quarter. Vanguard Group Inc. now owns 8,031,893 shares of the company’s stock valued at $39,356,000 after buying an additional 220,263 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in shares of Centerra Gold by 91.9% in the third quarter. Mackenzie Financial Corp now owns 3,384,834 shares of the company’s stock valued at $15,775,000 after buying an additional 1,621,158 shares during the period. Institutional investors and hedge funds 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.