FY2024 Earnings Forecast for Centerra Gold Issued By Cormark

Centerra Gold Inc. (NYSE:CGAU) – Equities researchers at Cormark reduced their FY2024 EPS estimates for shares of Centerra Gold in a research note issued on Tuesday, November 5th. Cormark analyst R. Gray now forecasts that the company will post earnings of $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.

Centerra Gold (NYSE:CGAU) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.18 earnings per share (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 business had revenue of $323.93 million during the quarter. During the same period last year, the business earned $0.20 earnings per share.

CGAU has been the subject of a number of other reports. Cibc World Mkts cut Centerra Gold from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 10th. CIBC reaffirmed 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. Finally, Desjardins upgraded shares of Centerra Gold to a “moderate buy” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Centerra Gold presently has an average rating of “Moderate Buy” and an average price target of $11.00.

Centerra Gold Trading Down 2.4 %

Shares of NYSE:CGAU opened at $6.21 on Thursday. The firm has a 50 day simple moving average of $7.03 and a 200-day simple moving average of $6.86. The company has a market capitalization of $1.31 billion, a PE ratio of 12.93 and a beta of 0.98. Centerra Gold has a twelve month low of $4.47 and a twelve month high of $7.82.

Centerra Gold Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a dividend of $0.052 per share. The ex-dividend date is Wednesday, November 13th. This is an increase 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%.

Hedge Funds Weigh In On Centerra Gold

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Quadrature Capital Ltd boosted its holdings in shares of Centerra Gold by 118.5% in the first quarter. Quadrature Capital Ltd now owns 295,800 shares of the company’s stock valued at $1,742,000 after acquiring an additional 160,400 shares in the last quarter. Acadian Asset Management LLC lifted its position in Centerra Gold by 309.6% in the first quarter. Acadian Asset Management LLC now owns 1,275,800 shares of the company’s stock valued at $7,527,000 after purchasing an additional 964,294 shares during the period. Russell Investments Group Ltd. boosted its holdings in Centerra Gold by 80.0% in the 1st quarter. Russell Investments Group Ltd. now owns 117,034 shares of the company’s stock valued at $692,000 after purchasing an additional 52,014 shares in the last quarter. Old West Investment Management LLC acquired a new position in Centerra Gold during the 2nd quarter worth approximately $1,344,000. Finally, Renaissance Technologies LLC raised its stake in shares of Centerra Gold by 29.0% during the 2nd quarter. Renaissance Technologies LLC now owns 327,800 shares of the company’s stock worth $2,203,000 after buying an additional 73,600 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.