Analysts Issue Forecasts for Centerra Gold Q3 Earnings

Centerra Gold Inc. (NYSE:CGAU - Free Report) - Stock analysts at National Bank Financial issued their Q3 2024 earnings estimates for Centerra Gold in a research report issued on Tuesday, October 22nd. National Bank Financial analyst M. Parkin forecasts that the company will post earnings of $0.20 per share for the quarter. The consensus estimate for Centerra Gold's current full-year earnings is $0.84 per share.

Centerra Gold (NYSE:CGAU - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.07. Centerra Gold had a net margin of 10.68% and a return on equity of 10.72%. The firm had revenue of $282.31 million for the quarter. During the same quarter last year, the company earned ($0.20) EPS.

CGAU has been the topic of several other reports. CIBC reaffirmed a "neutral" rating and issued a $13.00 target price (up from $11.00) on shares of Centerra Gold in a research report on Wednesday, July 10th. Cibc World Mkts cut shares of Centerra Gold from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 10th. Two analysts have rated the stock with a hold rating and four have assigned 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 Stock Performance

Shares of Centerra Gold stock traded up $0.05 on Thursday, reaching $7.50. 817,897 shares of the company were exchanged, compared to its average volume of 626,422. Centerra Gold has a 1-year low of $4.47 and a 1-year high of $7.82. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 27.78 and a beta of 0.98. The company's 50-day moving average is $7.10 and its two-hundred day moving average is $6.80.

Centerra Gold Dividend Announcement

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

Hedge Funds Weigh In On Centerra Gold

A number of institutional investors and hedge funds have recently bought and sold shares of CGAU. Van ECK Associates Corp increased its position in shares of Centerra Gold by 7.6% during the 1st quarter. Van ECK Associates Corp now owns 22,034,754 shares of the company's stock valued at $130,191,000 after purchasing an additional 1,552,601 shares during the period. Donald Smith & CO. Inc. lifted its holdings in 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 acquiring an additional 867,334 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Centerra Gold by 594.6% during the 2nd quarter. Acadian Asset Management LLC now owns 8,862,170 shares of the company's stock valued at $59,532,000 after purchasing an additional 7,586,370 shares in the last quarter. 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 worth $18,862,000 after purchasing an additional 247,027 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings 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 worth $18,418,000 after purchasing an additional 87,248 shares in the last quarter. Institutional investors own 55.40% of the company's stock.

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.