Brokers Offer Predictions for Centerra Gold FY2024 Earnings

Centerra Gold Inc. (NYSE:CGAU - Free Report) - Equities researchers at Scotiabank upped their FY2024 earnings per share (EPS) estimates for shares of Centerra Gold in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst O. Habib now forecasts that the company will post earnings of $0.75 per share for the year, up from their previous forecast of $0.69. The consensus estimate for Centerra Gold's current full-year earnings is $0.79 per share. Scotiabank also issued estimates for Centerra Gold's FY2026 earnings at $0.63 EPS.

Separately, Desjardins raised 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 two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $11.00.

Centerra Gold Stock Down 0.3 %

Shares of CGAU stock traded down $0.02 on Friday, reaching $5.83. The company had a trading volume of 559,263 shares, compared to its average volume of 621,661. The business's 50-day moving average is $5.95 and its 200 day moving average is $6.61. Centerra Gold has a one year low of $4.47 and a one year high of $7.82. The stock has a market capitalization of $1.22 billion, a PE ratio of 12.15 and a beta of 0.90.

Centerra Gold (NYSE:CGAU - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.02). The business had revenue of $323.93 million during the quarter. Centerra Gold had a net margin of 8.31% and a return on equity of 10.34%. During the same quarter last year, the firm posted $0.20 EPS.

Centerra Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were issued a $0.052 dividend. This represents a $0.21 dividend on an annualized basis and a yield of 3.57%. This is an increase from Centerra Gold's previous quarterly dividend of $0.05. The ex-dividend date was Wednesday, November 13th. Centerra Gold's dividend payout ratio is presently 43.75%.

Hedge Funds Weigh In On Centerra Gold

A number of hedge funds have recently made changes to their positions in CGAU. JPMorgan Chase & Co. increased its position in Centerra Gold by 9.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 385,199 shares of the company's stock valued at $2,758,000 after purchasing an additional 33,420 shares during the period. Barclays PLC increased its position in shares of Centerra Gold by 284.5% during the third quarter. Barclays PLC now owns 74,930 shares of the company's stock worth $537,000 after buying an additional 55,444 shares during the period. Toronto Dominion Bank raised its stake in Centerra Gold by 22.8% during the third quarter. Toronto Dominion Bank now owns 33,921 shares of the company's stock worth $243,000 after buying an additional 6,307 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Centerra Gold by 378.7% in the third quarter. Geode Capital Management LLC now owns 454,939 shares of the company's stock valued at $4,152,000 after buying an additional 359,905 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in Centerra Gold during the third quarter valued at $4,454,000. 55.40% of the stock is currently owned by 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.