FY2024 EPS Estimates for Centerra Gold Boosted by Scotiabank

Centerra Gold Inc. (NYSE:CGAU) – Analysts at Scotiabank increased their FY2024 earnings per share estimates for Centerra Gold in a research note issued on Wednesday, January 8th. Scotiabank analyst O. Habib now forecasts that the company will post earnings of $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.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02). The firm had revenue of $323.93 million during the quarter. Centerra Gold had a net margin of 8.31% and a return on equity of 10.34%. During the same quarter in the prior year, the company earned $0.20 earnings per share.

Separately, Desjardins raised shares of Centerra Gold to a “moderate buy” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.00.

Centerra Gold Stock Performance

NYSE CGAU opened at $5.83 on Friday. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 12.15 and a beta of 0.90. Centerra Gold has a one year low of $4.47 and a one year high of $7.82. The company’s 50 day moving average price is $5.94 and its 200 day moving average price is $6.60.

Centerra Gold Increases Dividend

The business also recently announced 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. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.21 annualized dividend and a dividend yield of 3.57%. The ex-dividend date was Wednesday, November 13th. Centerra Gold’s dividend payout ratio (DPR) is presently 43.75%.

Hedge Funds Weigh In On Centerra Gold

Institutional investors and hedge funds have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. lifted its position 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. Jane Street Group LLC increased its stake in Centerra Gold by 145.6% during the 3rd quarter. Jane Street Group LLC now owns 419,992 shares of the company’s stock worth $3,015,000 after buying an additional 249,004 shares during the period. Geode Capital Management LLC lifted its holdings in Centerra Gold by 378.7% in the 3rd quarter. Geode Capital Management LLC now owns 454,939 shares of the company’s stock worth $4,152,000 after buying an additional 359,905 shares in the last quarter. Renaissance Technologies LLC boosted its position in Centerra Gold by 29.0% in the 2nd quarter. Renaissance Technologies LLC now owns 327,800 shares of the company’s stock valued at $2,203,000 after buying an additional 73,600 shares during the last quarter. Finally, Old West Investment Management LLC purchased a new position in Centerra Gold in the 2nd quarter valued at about $1,344,000. Hedge funds and other institutional investors own 55.40% of the company’s stock.

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.