Cormark Has Bearish Estimate for Centerra Gold Q3 Earnings

Centerra Gold Inc. (NYSE:CGAU) – Investment analysts at Cormark reduced their Q3 2024 EPS estimates for shares of Centerra Gold in a note issued to investors on Wednesday, October 23rd. Cormark analyst R. Gray now expects that the company will post earnings of $0.20 per share for the quarter, down from their previous estimate of $0.26. The consensus estimate for Centerra Gold’s current full-year earnings is $0.84 per share.

Centerra Gold (NYSE:CGAU) last issued its earnings results on Thursday, August 1st. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.07. The company had revenue of $282.31 million during the quarter. Centerra Gold had a net margin of 10.68% and a return on equity of 10.72%. During the same period last year, the business earned ($0.20) EPS.

A number of other brokerages have also issued reports on CGAU. CIBC reissued a “neutral” rating and set a $13.00 target price (up previously from $11.00) on shares of Centerra Gold in a research note on Wednesday, July 10th. Cibc World Mkts lowered shares of Centerra Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.00.

Centerra Gold Stock Down 3.3 %

Shares of NYSE:CGAU opened at $7.25 on Monday. The firm has a fifty day moving average of $7.12 and a two-hundred day moving average of $6.83. The firm has a market capitalization of $1.55 billion, a P/E ratio of 26.85 and a beta of 0.98. Centerra Gold has a 12-month low of $4.47 and a 12-month high of $7.82.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CGAU. CWM LLC acquired a new position in Centerra Gold during the 3rd quarter worth $57,000. Vanguard Personalized Indexing Management LLC lifted its position in Centerra Gold by 12.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,384 shares of the company’s stock worth $96,000 after acquiring an additional 1,573 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Centerra Gold during the 1st quarter worth about $113,000. DekaBank Deutsche Girozentrale bought a new position in shares of Centerra Gold during the 2nd quarter worth about $131,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Centerra Gold during the 2nd quarter worth about $154,000. Institutional investors and hedge funds own 55.40% of the company’s stock.

Centerra Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a dividend of $0.051 per share. This represents a $0.20 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 is 74.07%.

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.