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

Centerra Gold Inc. (NYSE:CGAU) – Equities researchers at Cormark decreased their Q1 2024 earnings estimates for shares of Centerra Gold in a research report issued to clients and investors on Monday, April 22nd. Cormark analyst R. Gray now forecasts that the company will post earnings per share of $0.13 for the quarter, down from their prior forecast of $0.34. The consensus estimate for Centerra Gold’s current full-year earnings is $0.49 per share.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.28 earnings per share (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 for the quarter.

Other research analysts have also issued research reports about the stock. BMO Capital Markets initiated coverage on shares of Centerra Gold in a report on Wednesday, February 21st. They set an “outperform” rating for the company. National Bank Financial restated an “outperform overweight” rating on shares of Centerra Gold in a report on Monday, April 8th. Raymond James reduced 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. Finally, CIBC raised their price objective 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 equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $9.78.

Centerra Gold Stock Performance

Centerra Gold stock opened at $6.29 on Wednesday. Centerra Gold has a 52-week low of $4.47 and a 52-week high of $7.23. The firm 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 price-to-earnings ratio of -16.99 and a beta of 0.98.

Centerra Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 13th were given a dividend of $0.0518 per share. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. The ex-dividend date was Tuesday, March 12th. This represents a $0.21 annualized dividend and a dividend yield of 3.30%. Centerra Gold’s dividend payout ratio (DPR) is -43.24%.

Institutional Trading of Centerra Gold

Large investors have recently modified their holdings of the stock. Versor Investments LP acquired a new stake in Centerra Gold in the 3rd quarter valued at $52,000. Heron Bay Capital Management acquired a new stake in Centerra Gold in the 4th quarter valued at $77,000. Dynamic Technology Lab Private Ltd acquired a new stake in Centerra Gold in the 4th quarter valued at $98,000. Hsbc Holdings PLC grew 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 valued at $174,000 after purchasing an additional 20,389 shares during the period. Finally, Insigneo Advisory Services LLC acquired a new stake in Centerra Gold in the 3rd quarter valued at $223,000. Institutional investors and hedge funds 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.