Desjardins Weighs in on Centerra Gold Inc.’s Q1 2024 Earnings (NYSE:CGAU)

Centerra Gold Inc. (NYSE:CGAU) – Stock analysts at Desjardins issued their Q1 2024 earnings estimates for shares of Centerra Gold in a report issued on Tuesday, April 23rd. Desjardins analyst J. Sclodnick anticipates that the company will post earnings per share of $0.17 for the quarter. The consensus estimate for Centerra Gold’s current full-year earnings is $0.49 per share.

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

Several other research firms have also recently weighed in on CGAU. National Bank Financial restated an “outperform overweight” rating on shares of Centerra Gold in a research report on Monday, April 8th. Raymond James lowered their price objective on shares of Centerra Gold from $12.00 to $11.00 and set an “outperform” rating for the company in a research report on Friday, December 29th. BMO Capital Markets began coverage on shares of Centerra Gold in a research report on Wednesday, February 21st. They issued an “outperform” rating for the company. Finally, CIBC raised their price objective on shares of Centerra Gold from $9.50 to $11.00 and gave the company an “outperformer” rating in a research report on Monday, April 15th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $9.78.

Centerra Gold Stock Down 2.0 %

Shares of Centerra Gold stock opened at $6.22 on Thursday. The stock has a market capitalization of $1.34 billion, a P/E ratio of -16.80 and a beta of 0.98. Centerra Gold has a 12-month low of $4.47 and a 12-month high of $7.23. The company has a 50-day simple moving average of $5.68 and a 200 day simple moving average of $5.56.

Centerra Gold Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 13th were paid a $0.0518 dividend. This represents a $0.21 annualized dividend and a dividend yield of 3.33%. The ex-dividend date was Tuesday, March 12th. This is a positive change from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s dividend payout ratio (DPR) is -43.24%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. American Century Companies Inc. boosted its stake in shares of Centerra Gold by 99.6% in the 3rd quarter. American Century Companies Inc. now owns 1,135,677 shares of the company’s stock valued at $5,552,000 after purchasing an additional 566,652 shares during the last quarter. Vanguard Group Inc. boosted its stake in Centerra Gold by 2.8% during the 3rd quarter. Vanguard Group Inc. now owns 8,031,893 shares of the company’s stock worth $39,356,000 after acquiring an additional 220,263 shares during the last quarter. Deutsche Bank AG boosted its stake in Centerra Gold by 818.1% during the 3rd quarter. Deutsche Bank AG now owns 169,704 shares of the company’s stock worth $832,000 after acquiring an additional 151,220 shares during the last quarter. Hsbc Holdings PLC boosted its stake in Centerra Gold by 134.2% during 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. Finally, Mackenzie Financial Corp boosted its stake in 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 acquiring an additional 1,621,158 shares during the last quarter. Institutional investors own 55.40% of the company’s stock.

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.