Centerra Gold Inc. Forecasted to Post Q1 2024 Earnings of $0.17 Per Share (NYSE:CGAU)

Centerra Gold Inc. (NYSE:CGAU) – Stock analysts at Desjardins issued their Q1 2024 earnings per share (EPS) estimates for shares of Centerra Gold in a research report issued on Tuesday, April 23rd. Desjardins analyst J. Sclodnick forecasts that the company will post earnings of $0.17 per share for the quarter. The consensus estimate for Centerra Gold’s current full-year earnings is $0.49 per share.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.01). Centerra Gold had a positive return on equity of 0.62% and a negative net margin of 7.43%. The firm had revenue of $340.00 million for the quarter.

CGAU has been the topic of several other reports. Raymond James lowered their target price on Centerra Gold from $12.00 to $11.00 and set an “outperform” rating on the stock in a report on Friday, December 29th. National Bank Financial restated an “outperform overweight” rating on shares of Centerra Gold in a report on Monday, April 8th. CIBC boosted their target price on Centerra Gold from $9.50 to $11.00 and gave the stock an “outperformer” rating in a report on Monday, April 15th. Finally, BMO Capital Markets initiated coverage on Centerra Gold in a report on Wednesday, February 21st. They set an “outperform” rating on the stock. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $9.78.

Centerra Gold Trading Up 1.1 %

NYSE:CGAU opened at $6.36 on Thursday. Centerra Gold has a 12 month low of $4.47 and a 12 month high of $7.08. The stock has a 50 day moving average of $5.73 and a two-hundred day moving average of $5.58. The firm has a market cap of $1.37 billion, a P/E ratio of -17.19 and a beta of 0.98.

Centerra Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 13th were issued a $0.0518 dividend. The ex-dividend date was Tuesday, March 12th. This is a boost from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.21 dividend on an annualized basis and a yield of 3.26%. Centerra Gold’s dividend payout ratio is currently -43.24%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Centerra Gold by 33.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,935 shares of the company’s stock worth $265,000 after purchasing an additional 13,553 shares in the last quarter. Mackenzie Financial Corp lifted its stake in Centerra Gold by 91.9% during the third quarter. Mackenzie Financial Corp now owns 3,384,834 shares of the company’s stock worth $15,775,000 after purchasing an additional 1,621,158 shares in the last quarter. CIBC Asset Management Inc lifted its stake in Centerra Gold by 1.8% during the third quarter. CIBC Asset Management Inc now owns 207,198 shares of the company’s stock worth $1,016,000 after purchasing an additional 3,640 shares in the last quarter. Versor Investments LP purchased a new stake in shares of Centerra Gold during the third quarter worth $52,000. Finally, Heartland Advisors Inc. increased its position in shares of Centerra Gold by 2.6% during the third quarter. Heartland Advisors Inc. now owns 2,191,300 shares of the company’s stock worth $10,737,000 after acquiring an additional 55,200 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.