Centerra Gold Inc. (NYSE:CGAU) to Post Q3 2024 Earnings of $0.22 Per Share, Cormark Forecasts

Centerra Gold Inc. (NYSE:CGAU - Free Report) - Analysts at Cormark upped their Q3 2024 earnings per share (EPS) estimates for Centerra Gold in a research note issued to investors on Wednesday, May 15th. Cormark analyst R. Gray now expects that the company will post earnings of $0.22 per share for the quarter, up from their previous forecast of $0.01. The consensus estimate for Centerra Gold's current full-year earnings is $0.77 per share. Cormark also issued estimates for Centerra Gold's Q4 2024 earnings at $0.23 EPS, FY2024 earnings at $0.83 EPS and FY2025 earnings at $0.54 EPS.

Other equities analysts have also recently issued reports about the company. CIBC raised their price objective on Centerra Gold from $9.50 to $11.00 and gave the company an "outperformer" rating in a research note on Monday, April 15th. National Bank Financial restated an "outperform overweight" rating on shares of Centerra Gold in a research note on Monday, April 8th. Finally, BMO Capital Markets started coverage on Centerra Gold in a research note on Wednesday, February 21st. They set an "outperform" rating on the stock. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $9.43.

Centerra Gold Trading Up 1.8 %

Centerra Gold stock traded up $0.13 during trading on Monday, hitting $7.34. 424,894 shares of the company were exchanged, compared to its average volume of 416,908. The business's 50 day moving average is $6.10 and its 200 day moving average is $5.74. Centerra Gold has a 52 week low of $4.47 and a 52 week high of $7.44. The company has a market capitalization of $1.58 billion, a P/E ratio of 26.70 and a beta of 0.94.

Centerra Gold (NYSE:CGAU - Get Free Report) last released its quarterly earnings data on Tuesday, May 14th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). The firm had revenue of $305.88 million for the quarter. Centerra Gold had a net margin of 4.99% and a return on equity of 5.61%. During the same period last year, the company posted ($0.24) EPS.

Institutional Investors Weigh In On Centerra Gold

A number of hedge funds have recently made changes to their positions in the business. Versor Investments LP purchased a new stake in Centerra Gold in the 3rd quarter worth about $52,000. Heron Bay Capital Management purchased a new stake in Centerra Gold in the 4th quarter worth about $77,000. Dynamic Technology Lab Private Ltd purchased a new stake in Centerra Gold in the 4th quarter worth about $98,000. Virtu Financial LLC purchased a new stake in Centerra Gold in the 1st quarter worth about $113,000. Finally, Hsbc Holdings PLC increased its holdings in Centerra Gold by 134.2% in the 3rd quarter. Hsbc Holdings PLC now owns 35,587 shares of the company's stock worth $174,000 after acquiring an additional 20,389 shares during the last quarter. 55.40% of the stock is currently owned by institutional investors.

Centerra Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Wednesday, May 29th will be paid a dividend of $0.051 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Wednesday, May 29th. Centerra Gold's payout ratio is 77.78%.

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.