FY2024 EPS Estimates for Centerra Gold Boosted by Analyst

Centerra Gold Inc. (NYSE:CGAU) – Analysts at Scotiabank increased their FY2024 earnings per share (EPS) estimates for Centerra Gold in a research note issued on Wednesday, January 8th. Scotiabank analyst O. Habib now forecasts that the company will earn $0.75 per share for the year, up from their prior estimate 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 shares of Centerra Gold to a “moderate buy” rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.00.

Centerra Gold Trading Up 1.0 %

CGAU opened at $5.86 on Friday. Centerra Gold has a 12-month low of $4.47 and a 12-month high of $7.82. The firm has a 50 day moving average of $5.95 and a two-hundred day moving average of $6.61. The firm has a market capitalization of $1.23 billion, a PE ratio of 12.21 and a beta of 0.90.

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

Centerra Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were issued a dividend of $0.052 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.21 dividend on an annualized basis and a yield of 3.55%. Centerra Gold’s dividend payout ratio is 41.67%.

Institutional Investors Weigh In On Centerra Gold

A number of institutional investors have recently modified their holdings of CGAU. Bank of Montreal Can increased its holdings in Centerra Gold by 158.9% in the 2nd quarter. Bank of Montreal Can now owns 2,433,241 shares of the company’s stock worth $16,881,000 after acquiring an additional 1,493,349 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Centerra Gold by 36.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,390,005 shares of the company’s stock worth $31,514,000 after purchasing an additional 1,175,000 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Centerra Gold by 132.8% during the second quarter. American Century Companies Inc. now owns 1,835,673 shares of the company’s stock worth $12,345,000 after purchasing an additional 1,047,142 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of Centerra Gold by 111.3% during the 2nd quarter. Mackenzie Financial Corp now owns 1,493,717 shares of the company’s stock worth $10,046,000 after purchasing an additional 786,688 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in Centerra Gold in the 3rd quarter valued at about $4,454,000. 55.40% of the stock is currently owned by institutional investors and hedge funds.

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.