What is Cormark’s Forecast for Centerra Gold Q3 Earnings?

Centerra Gold Inc. (TSE:CG) – Investment analysts at Cormark lowered their Q3 2024 earnings estimates for Centerra Gold in a research note issued on Wednesday, October 23rd. Cormark analyst R. Gray now anticipates that the company will post earnings of $0.28 per share for the quarter, down from their previous estimate of $0.36.

Centerra Gold (TSE:CG) last released its earnings results on Thursday, August 1st. The company reported C$0.31 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.22 by C$0.09. Centerra Gold had a return on equity of 7.98% and a net margin of 10.69%. The company had revenue of C$386.27 million during the quarter.

CG has been the topic of a number of other reports. Canaccord Genuity Group lifted their price objective on Centerra Gold from C$11.50 to C$12.50 in a research report on Tuesday, July 23rd. Cibc World Mkts lowered shares of Centerra Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 10th. CIBC cut shares of Centerra Gold from an “outperform” rating to a “neutral” rating and upped their price target for the stock from C$11.00 to C$13.00 in a research note on Wednesday, July 10th. Finally, Raymond James dropped their price objective on Centerra Gold from C$13.50 to C$13.00 and set an “outperform” rating on the stock in a research report on Monday, September 30th. Two investment 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$11.83.

Centerra Gold Stock Performance

Shares of CG stock opened at C$10.18 on Monday. The company has a market capitalization of C$2.17 billion, a P/E ratio of 12.13, a PEG ratio of 1.26 and a beta of 1.23. Centerra Gold has a fifty-two week low of C$6.07 and a fifty-two week high of C$10.59. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.24 and a current ratio of 3.79. The stock has a 50 day moving average price of C$9.66 and a two-hundred day moving average price of C$9.28.

Insiders Place Their Bets

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

Centerra Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were issued a $0.07 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.28 annualized dividend and a dividend yield of 2.75%. Centerra Gold’s dividend payout ratio (DPR) is 33.33%.

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.