Cormark Issues Negative Forecast for Centerra Gold Earnings

Centerra Gold Inc. (TSE:CG - Free Report) - Equities research analysts at Cormark reduced their Q3 2024 earnings per share estimates for shares of Centerra Gold in a research report issued on Wednesday, October 23rd. Cormark analyst R. Gray now anticipates that the company will earn $0.28 per share for the quarter, down from their previous estimate of $0.36.

Other analysts also recently issued research reports about the stock. Cibc World Mkts downgraded shares of Centerra Gold from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 10th. CIBC lowered Centerra Gold from an "outperform" rating to a "neutral" rating and lifted their price objective for the company from C$11.00 to C$13.00 in a report on Wednesday, July 10th. Canaccord Genuity Group upped their price objective on Centerra Gold from C$11.50 to C$12.50 in a report on Tuesday, July 23rd. Finally, Raymond James reduced their target price on Centerra Gold from C$13.50 to C$13.00 and set an "outperform" rating for the company in a report on Monday, September 30th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$11.83.

Centerra Gold Stock Performance

TSE:CG traded down C$0.11 during trading hours on Monday, reaching C$9.97. 447,120 shares of the company's stock were exchanged, compared to its average volume of 733,398. The company has a quick ratio of 3.24, a current ratio of 3.79 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of C$2.12 billion, a price-to-earnings ratio of 11.87, a P/E/G ratio of 1.26 and a beta of 1.23. Centerra Gold has a 1-year low of C$6.07 and a 1-year high of C$10.59. The company has a 50-day moving average of C$9.65 and a 200 day moving average of C$9.27.

Centerra Gold (TSE:CG - Get Free Report) last posted its earnings results on Thursday, August 1st. The company reported C$0.31 earnings per share for the quarter, beating the consensus estimate of C$0.22 by C$0.09. The business had revenue of C$386.27 million during the quarter. Centerra Gold had a return on equity of 7.98% and a net margin of 10.69%.

Insiders Place Their Bets

In other Centerra Gold news, Senior Officer Claudia D'orazio sold 29,388 shares of Centerra Gold stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of C$10.20, for a total transaction of C$299,757.60. In related news, Senior Officer Yousef Rehman sold 71,419 shares of the firm's stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of C$10.03, for a total transaction of C$716,332.57. Also, Senior Officer Claudia D'orazio sold 29,388 shares of the firm's stock in a transaction on Friday, September 27th. The shares were sold at an average price of C$10.20, for a total transaction of C$299,757.60. 0.21% of the stock is currently owned by insiders.

Centerra Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend was Thursday, August 15th. Centerra Gold's dividend payout ratio (DPR) is presently 33.33%.

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.