Centerra Gold Inc. to Post FY2024 Earnings of $0.76 Per Share, Raymond James Forecasts (NYSE:CGAU)

Centerra Gold Inc. (NYSE:CGAU - Free Report) - Investment analysts at Raymond James lifted their FY2024 earnings per share estimates for shares of Centerra Gold in a research note issued to investors on Monday, September 23rd. Raymond James analyst B. Macarthur now expects that the company will earn $0.76 per share for the year, up from their prior estimate of $0.67. The consensus estimate for Centerra Gold's current full-year earnings is $0.82 per share. Raymond James also issued estimates for Centerra Gold's Q4 2024 earnings at $0.19 EPS.

Centerra Gold (NYSE:CGAU - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.23 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.07. Centerra Gold had a return on equity of 10.72% and a net margin of 10.68%. The company had revenue of $282.31 million during the quarter. During the same quarter in the previous year, the company posted ($0.20) earnings per share.

A number of other analysts also recently weighed in on the company. CIBC restated a "neutral" rating and issued a $13.00 price objective (up from $11.00) on shares of Centerra Gold in a report on Wednesday, July 10th. Cibc World Mkts downgraded Centerra Gold from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $9.80.

Centerra Gold Price Performance

NYSE CGAU traded up $0.01 on Wednesday, reaching $7.49. The company had a trading volume of 788,696 shares, compared to its average volume of 601,266. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 27.70 and a beta of 0.98. Centerra Gold has a fifty-two week low of $4.47 and a fifty-two week high of $7.59. The business has a 50 day moving average of $6.84 and a two-hundred day moving average of $6.60.

Centerra Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.051 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.20 dividend on an annualized basis and a yield of 2.72%. Centerra Gold's payout ratio is currently 74.07%.

Institutional Trading of Centerra Gold

Large investors have recently bought and sold shares of the business. Van ECK Associates Corp grew its stake in shares of Centerra Gold by 7.6% in the 1st quarter. Van ECK Associates Corp now owns 22,034,754 shares of the company's stock valued at $130,191,000 after buying an additional 1,552,601 shares during the period. Donald Smith & CO. Inc. grew its stake in shares of Centerra Gold by 8.8% in the 1st quarter. Donald Smith & CO. Inc. now owns 10,747,290 shares of the company's stock valued at $63,516,000 after buying an additional 867,334 shares during the period. Acadian Asset Management LLC grew its stake in shares of Centerra Gold by 594.6% in the 2nd quarter. Acadian Asset Management LLC now owns 8,862,170 shares of the company's stock valued at $59,532,000 after buying an additional 7,586,370 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Centerra Gold by 8.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,164,687 shares of the company's stock valued at $18,862,000 after buying an additional 247,027 shares during the period. Finally, Wellington Management Group LLP grew its stake in shares of Centerra Gold by 2.9% in the 4th quarter. Wellington Management Group LLP now owns 3,070,263 shares of the company's stock valued at $18,418,000 after buying an additional 87,248 shares during the period. 55.40% of the stock is currently owned by institutional investors and hedge funds.

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.