Centerra Gold Inc. Forecasted to Post Q2 2024 Earnings of $0.29 Per Share (TSE:CG)

Centerra Gold Inc. (TSE:CG) – Equities research analysts at Raymond James raised their Q2 2024 earnings per share (EPS) estimates for Centerra Gold in a research note issued to investors on Tuesday, April 23rd. Raymond James analyst B. Macarthur now anticipates that the company will post earnings of $0.29 per share for the quarter, up from their prior forecast of $0.12. The consensus estimate for Centerra Gold’s current full-year earnings is $0.41 per share. Raymond James also issued estimates for Centerra Gold’s Q3 2024 earnings at $0.18 EPS, Q4 2024 earnings at $0.18 EPS and FY2024 earnings at $0.78 EPS.

Centerra Gold (TSE:CG) last issued its quarterly earnings results on Thursday, February 22nd. The company reported C$0.38 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.39 by C($0.01). The company had revenue of C$462.92 million during the quarter. Centerra Gold had a negative return on equity of 4.66% and a negative net margin of 7.42%.

CG has been the topic of a number of other research reports. Cormark dropped their price target on Centerra Gold from C$11.50 to C$11.00 in a research note on Monday, February 26th. National Bank Financial reissued an “outperform overweight” rating on shares of Centerra Gold in a research note on Monday, April 8th. BMO Capital Markets set a C$10.00 price target on Centerra Gold and gave the stock an “outperform” rating in a research note on Wednesday, February 21st. Desjardins decreased their price objective on Centerra Gold from C$12.00 to C$11.75 and set a “buy” rating for the company in a research report on Tuesday, January 9th. Finally, Canaccord Genuity Group raised their price objective on Centerra Gold from C$10.75 to C$11.00 in a research report on Tuesday, April 23rd. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$10.57.

Centerra Gold Trading Up 1.2 %

Shares of CG opened at C$8.68 on Friday. The business’s 50-day moving average price is C$7.79 and its 200 day moving average price is C$7.57. The stock has a market capitalization of C$1.87 billion, a P/E ratio of -16.69, a P/E/G ratio of 1.26 and a beta of 1.16. Centerra Gold has a 1-year low of C$6.07 and a 1-year high of C$9.67. The company has a current ratio of 3.25, a quick ratio of 3.24 and a debt-to-equity ratio of 1.45.

Insider Activity

In other news, Senior Officer Darren Millman sold 110,274 shares of Centerra Gold stock in a transaction dated Friday, March 1st. The stock was sold at an average price of C$6.96, for a total transaction of C$766,955.67. 0.38% of the stock is owned by corporate insiders.

Centerra Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 27th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $0.28 annualized dividend and a dividend yield of 3.23%. Centerra Gold’s dividend payout ratio is -53.85%.

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.