Centerra Gold Inc. Expected to Post Q1 2024 Earnings of $0.16 Per Share (NYSE:CGAU)

Centerra Gold Inc. (NYSE:CGAU) – Analysts at National Bank Financial issued their Q1 2024 earnings per share (EPS) estimates for Centerra Gold in a research report issued to clients and investors on Thursday, April 18th. National Bank Financial analyst M. Parkin forecasts that the company will post earnings of $0.16 per share for the quarter. National Bank Financial has a “Outperform Overweight” rating on the stock. The consensus estimate for Centerra Gold’s current full-year earnings is $0.51 per share. National Bank Financial also issued estimates for Centerra Gold’s FY2025 earnings at $0.34 EPS.

CGAU has been the subject of several other research reports. BMO Capital Markets started coverage on Centerra Gold in a report on Wednesday, February 21st. They set an “outperform” rating for the company. CIBC increased their price target on Centerra Gold from $9.50 to $11.00 and gave the company an “outperformer” rating in a research note on Monday, April 15th. Finally, Raymond James dropped their price target on Centerra Gold from $12.00 to $11.00 and set an “outperform” rating on the stock in a research note on Friday, December 29th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $9.78.

Centerra Gold Stock Down 2.0 %

Shares of CGAU opened at $6.07 on Monday. The company has a 50 day moving average of $5.62 and a two-hundred day moving average of $5.55. Centerra Gold has a twelve month low of $4.47 and a twelve month high of $7.23. The company has a market cap of $1.30 billion, a price-to-earnings ratio of -16.39 and a beta of 0.98.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). The firm had revenue of $340.00 million during the quarter. Centerra Gold had a negative net margin of 7.43% and a positive return on equity of 0.62%.

Centerra Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 13th were given a dividend of $0.0518 per share. The ex-dividend date was Tuesday, March 12th. This represents a $0.21 dividend on an annualized basis and a yield of 3.42%. This is a boost from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s payout ratio is currently -40.54%.

Institutional Investors Weigh In On Centerra Gold

A number of large investors have recently bought and sold shares of CGAU. American Century Companies Inc. raised its stake in shares of Centerra Gold by 99.6% during the 3rd quarter. American Century Companies Inc. now owns 1,135,677 shares of the company’s stock valued at $5,552,000 after buying an additional 566,652 shares during the last quarter. Vanguard Group Inc. raised its position in Centerra Gold by 2.8% during the third quarter. Vanguard Group Inc. now owns 8,031,893 shares of the company’s stock valued at $39,356,000 after acquiring an additional 220,263 shares in the last quarter. Deutsche Bank AG lifted its holdings in Centerra Gold by 818.1% in the third quarter. Deutsche Bank AG now owns 169,704 shares of the company’s stock valued at $832,000 after acquiring an additional 151,220 shares during the period. Hsbc Holdings PLC boosted its position 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 purchasing an additional 20,389 shares in the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of Centerra Gold by 91.9% during the 3rd quarter. Mackenzie Financial Corp now owns 3,384,834 shares of the company’s stock worth $15,775,000 after purchasing an additional 1,621,158 shares during the period. 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.