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

Centerra Gold Inc. (NYSE:CGAU) – Equities researchers at Cormark cut their Q1 2024 earnings per share (EPS) estimates for Centerra Gold in a report issued 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 previous forecast of $0.34. The consensus estimate for Centerra Gold’s current full-year earnings is $0.49 per share.

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

Centerra Gold Price Performance

Centerra Gold stock opened at $6.29 on Wednesday. The stock has a market capitalization of $1.35 billion, a PE ratio of -16.99 and a beta of 0.98. The business’s fifty day moving average is $5.71 and its 200 day moving average is $5.57. Centerra Gold has a one year low of $4.47 and a one year high of $7.23.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.28 EPS for the quarter, missing the consensus estimate 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

Several institutional investors and hedge funds have recently added to or reduced their stakes in CGAU. U S Global Investors Inc. raised its stake in Centerra Gold by 246.8% during the 3rd quarter. U S Global Investors Inc. now owns 641,648 shares of the company’s stock valued at $3,138,000 after purchasing an additional 456,648 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in 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 purchasing an additional 13,553 shares during the period. Mackenzie Financial Corp raised 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 valued at $15,775,000 after purchasing an additional 1,621,158 shares during the period. CIBC Asset Management Inc raised its stake in 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 purchasing an additional 3,640 shares during the period. Finally, Versor Investments LP bought a new stake in Centerra Gold during the 3rd quarter valued at approximately $52,000. Institutional investors own 55.40% of the company’s stock.

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 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 dividend yield of 3.30%. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s dividend payout ratio (DPR) is -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.