Q2 2024 EPS Estimates for Centerra Gold Inc. (NYSE:CGAU) Boosted by Raymond James

Centerra Gold Inc. (NYSE:CGAU) – Investment analysts at Raymond James increased their Q2 2024 EPS estimates for shares of Centerra Gold in a research note issued on Tuesday, April 23rd. Raymond James analyst B. Macarthur now expects that the company will post earnings of $0.21 per share for the quarter, up from their prior forecast of $0.09. Raymond James currently has a “Outperform” rating and a $11.00 target price on the stock. The consensus estimate for Centerra Gold’s current full-year earnings is $0.49 per share. Raymond James also issued estimates for Centerra Gold’s Q3 2024 earnings at $0.13 EPS, Q4 2024 earnings at $0.13 EPS and FY2024 earnings at $0.57 EPS.

CGAU has been the topic of a number of other research reports. CIBC lifted their target price on shares of Centerra Gold from $9.50 to $11.00 and gave the company an “outperformer” rating in a research note on Monday, April 15th. BMO Capital Markets initiated coverage on shares of Centerra Gold in a research note on Wednesday, February 21st. They set an “outperform” rating on the stock. Finally, National Bank Financial restated an “outperform overweight” rating on shares of Centerra Gold in a research note on Monday, April 8th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $9.78.

Centerra Gold Price Performance

Shares of CGAU stock opened at $6.36 on Friday. Centerra Gold has a 1 year low of $4.47 and a 1 year high of $7.08. The firm has a fifty day moving average price of $5.73 and a 200-day moving average price of $5.58. The company has a market cap of $1.37 billion, a price-to-earnings ratio of -17.19 and a beta of 0.98.

Centerra Gold (NYSE:CGAU) last issued its quarterly earnings data 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). Centerra Gold had a negative net margin of 7.43% and a positive return on equity of 0.62%. The business had revenue of $340.00 million for the quarter.

Institutional Trading of Centerra Gold

Hedge funds have recently bought and sold shares of the stock. CIBC Asset Management Inc raised its position in shares of Centerra Gold by 1.8% during the 3rd quarter. CIBC Asset Management Inc now owns 207,198 shares of the company’s stock valued at $1,016,000 after buying an additional 3,640 shares in the last quarter. CoreCommodity Management LLC raised its position in shares of Centerra Gold by 2.7% during the 4th quarter. CoreCommodity Management LLC now owns 348,100 shares of the company’s stock valued at $2,085,000 after buying an additional 9,000 shares in the last quarter. Versor Investments LP purchased a new stake in shares of Centerra Gold during the 3rd quarter valued at about $52,000. Heron Bay Capital Management purchased a new stake in shares of Centerra Gold during the 4th quarter valued at about $77,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Centerra Gold by 33.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,935 shares of the company’s stock valued at $265,000 after buying an additional 13,553 shares in the last quarter. Hedge funds and other institutional investors own 55.40% of the company’s stock.

Centerra Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 13th were paid a $0.0518 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $0.21 annualized dividend and a yield of 3.26%. This is a boost from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s payout ratio is presently -43.24%.

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.