Centerra Gold Inc. (NYSE:CGAU - Free Report) - Investment analysts at Cormark cut their FY2024 earnings estimates for Centerra Gold in a research report issued on Tuesday, November 5th. Cormark analyst R. Gray now expects that the company will post earnings per share of $0.79 for the year, down from their previous forecast of $0.88. The consensus estimate for Centerra Gold's current full-year earnings is $0.82 per share. Cormark also issued estimates for Centerra Gold's Q4 2024 earnings at $0.24 EPS.
Centerra Gold (NYSE:CGAU - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.18 earnings per share 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 firm had revenue of $323.93 million during the quarter. During the same quarter in the prior year, the firm earned $0.20 EPS.
CGAU has been the topic of a number of other reports. Cibc World Mkts lowered shares of Centerra Gold from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 10th. Desjardins upgraded Centerra Gold to a "moderate buy" rating in a research report on Thursday, October 31st. Finally, 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. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Centerra Gold has a consensus rating of "Moderate Buy" and an average target price of $11.00.
Read Our Latest Stock Report on CGAU
Centerra Gold Stock Performance
Shares of NYSE:CGAU traded up $0.30 during midday trading on Thursday, hitting $6.50. The company's stock had a trading volume of 885,637 shares, compared to its average volume of 641,122. The company has a market cap of $1.38 billion, a P/E ratio of 13.40 and a beta of 0.98. Centerra Gold has a 12-month low of $4.47 and a 12-month high of $7.82. The business's 50 day simple moving average is $7.03 and its 200 day simple moving average is $6.86.
Institutional Investors Weigh In On Centerra Gold
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Centerra Gold by 7.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 174,426 shares of the company's stock worth $1,142,000 after purchasing an additional 12,257 shares during the period. Heartland Advisors Inc. increased its position in shares of Centerra Gold by 2.8% during the first quarter. Heartland Advisors Inc. now owns 2,256,800 shares of the company's stock valued at $13,338,000 after acquiring an additional 62,300 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of 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 acquiring an additional 52,014 shares during the period. Edmond DE Rothschild Holding S.A. raised its stake in shares of Centerra Gold by 10.9% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 2,949,795 shares of the company's stock valued at $17,425,000 after acquiring an additional 289,795 shares during the period. Finally, Acadian Asset Management LLC boosted its position in shares of Centerra Gold by 309.6% during the 1st quarter. Acadian Asset Management LLC now owns 1,275,800 shares of the company's stock worth $7,527,000 after purchasing an additional 964,294 shares during the period. Institutional investors and hedge funds own 55.40% of the company's stock.
Centerra Gold Increases Dividend
The firm also recently disclosed 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. This represents a $0.21 annualized dividend and a yield of 3.20%. This is a positive change from Centerra Gold's previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Wednesday, November 13th. Centerra Gold's dividend payout ratio is presently 41.67%.
About Centerra Gold
(
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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.
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