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

Centerra Gold Inc. (NYSE:CGAU - Free Report) - Stock analysts at Desjardins issued their Q1 2024 EPS estimates for shares of Centerra Gold in a report issued on Tuesday, April 23rd. Desjardins analyst J. Sclodnick expects 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.

A number of other brokerages also recently issued reports on CGAU. Raymond James reduced their price objective on shares of Centerra Gold from $12.00 to $11.00 and set an "outperform" rating on the stock in a research report on Friday, December 29th. National Bank Financial reaffirmed an "outperform overweight" rating on shares of Centerra Gold in a research report on Monday, April 8th. BMO Capital Markets began coverage on shares of Centerra Gold in a research report on Wednesday, February 21st. They issued an "outperform" rating on the stock. Finally, CIBC upped their target price on shares of Centerra Gold from $9.50 to $11.00 and gave the stock an "outperformer" rating in a research report on Monday, April 15th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $9.78.

Centerra Gold Stock Performance

Shares of NYSE CGAU traded up $0.07 during mid-day trading on Thursday, hitting $6.29. The stock had a trading volume of 505,474 shares, compared to its average volume of 412,627. The business has a 50 day moving average price of $5.71 and a two-hundred day moving average price of $5.57. The firm has a market cap of $1.35 billion, a P/E ratio of -16.99 and a beta of 0.98. Centerra Gold has a 1 year low of $4.47 and a 1 year high of $7.23.

Centerra Gold (NYSE:CGAU - Get Free Report) last issued its earnings results 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 during the quarter.

Centerra Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 13th were given a $0.0518 dividend. This represents a $0.21 annualized dividend and a yield of 3.30%. The ex-dividend date was Tuesday, March 12th. This is a boost from Centerra Gold's previous quarterly dividend of $0.05. Centerra Gold's payout ratio is currently -43.24%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CGAU. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Centerra Gold by 33.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,935 shares of the company's stock valued at $265,000 after purchasing an additional 13,553 shares during the period. Mackenzie Financial Corp lifted its stake in Centerra Gold by 91.9% in the third quarter. Mackenzie Financial Corp now owns 3,384,834 shares of the company's stock worth $15,775,000 after acquiring an additional 1,621,158 shares during the period. CIBC Asset Management Inc lifted its stake in Centerra Gold by 1.8% in the third quarter. CIBC Asset Management Inc now owns 207,198 shares of the company's stock worth $1,016,000 after acquiring an additional 3,640 shares during the period. Versor Investments LP purchased a new stake in Centerra Gold in the third quarter worth about $52,000. Finally, Heartland Advisors Inc. lifted its stake in Centerra Gold by 2.6% in 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 owned by hedge funds and other institutional investors.

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.