Analysts Issue Forecasts for Centerra Gold FY2024 Earnings

Centerra Gold Inc. (NYSE:CGAU - Free Report) - Analysts at National Bank Financial cut their FY2024 earnings estimates for Centerra Gold in a note issued to investors on Monday, February 10th. National Bank Financial analyst M. Parkin now expects that the company will post earnings of $0.67 per share for the year, down from their previous forecast of $0.79. The consensus estimate for Centerra Gold's current full-year earnings is $0.77 per share. National Bank Financial also issued estimates for Centerra Gold's Q4 2024 earnings at $0.13 EPS and FY2025 earnings at $0.53 EPS.

Several other equities research analysts have also recently issued reports on the stock. Scotiabank decreased their price objective on shares of Centerra Gold from $10.00 to $9.00 and set a "sector outperform" rating for the company in a research report on Wednesday, January 15th. Desjardins cut shares of Centerra Gold from a "moderate buy" rating to a "hold" rating in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $11.00.

Centerra Gold Stock Performance

Shares of NYSE:CGAU traded down $0.22 during trading on Wednesday, hitting $6.40. The company's stock had a trading volume of 562,400 shares, compared to its average volume of 653,000. The company has a market capitalization of $1.34 billion, a PE ratio of 13.32 and a beta of 0.91. The business has a 50 day moving average price of $6.02 and a two-hundred day moving average price of $6.51. Centerra Gold has a fifty-two week low of $4.88 and a fifty-two week high of $7.82.

Institutional Investors Weigh In On Centerra Gold

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC purchased a new stake in shares of Centerra Gold in the third quarter valued at about $57,000. Semanteon Capital Management LP raised its holdings in shares of Centerra Gold by 152.3% in the third quarter. Semanteon Capital Management LP now owns 46,972 shares of the company's stock valued at $336,000 after buying an additional 28,358 shares during the last quarter. Integrated Advisors Network LLC purchased a new stake in shares of Centerra Gold in the third quarter valued at about $367,000. Old West Investment Management LLC raised its holdings in shares of Centerra Gold by 100.0% in the third quarter. Old West Investment Management LLC now owns 400,000 shares of the company's stock valued at $2,864,000 after buying an additional 200,000 shares during the last quarter. Finally, Versor Investments LP raised its holdings in shares of Centerra Gold by 40.9% in the third quarter. Versor Investments LP now owns 146,700 shares of the company's stock valued at $1,053,000 after buying an additional 42,600 shares during the last quarter. 55.40% of the stock is owned by hedge funds and other institutional investors.

About Centerra Gold

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.