Centerra Gold Inc. (NYSE:CGAU – Free Report) – Research analysts at National Bank Financial issued their Q2 2024 earnings per share estimates for Centerra Gold in a research note issued on Tuesday, July 16th. National Bank Financial analyst M. Parkin anticipates that the company will post earnings per share of $0.13 for the quarter. National Bank Financial has a “Outperform Overweight” rating on the stock. The consensus estimate for Centerra Gold’s current full-year earnings is $0.75 per share. National Bank Financial also issued estimates for Centerra Gold’s FY2024 earnings at $0.74 EPS and FY2025 earnings at $0.63 EPS.
Centerra Gold (NYSE:CGAU – Get Free Report) last released its quarterly earnings results on Tuesday, May 14th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The company had revenue of $305.88 million during the quarter. Centerra Gold had a net margin of 4.99% and a return on equity of 5.58%. During the same quarter in the prior year, the company earned ($0.24) earnings per share.
Other research analysts have also issued reports about the stock. CIBC reaffirmed a “neutral” rating and issued a $13.00 price target (up from $11.00) on shares of Centerra Gold in a research note on Wednesday, July 10th. Scotiabank raised their target price on Centerra Gold from $8.00 to $9.00 and gave the company a “sector outperform” rating in a research report on Thursday, May 23rd. Finally, Cibc World Mkts cut Centerra Gold from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $9.80.
Get Our Latest Stock Report on Centerra Gold
Centerra Gold Stock Down 1.6 %
CGAU opened at $6.59 on Thursday. The firm’s fifty day simple moving average is $6.88 and its two-hundred day simple moving average is $6.08. Centerra Gold has a 52-week low of $4.47 and a 52-week high of $7.51. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 24.41 and a beta of 0.98.
Hedge Funds Weigh In On Centerra Gold
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp increased its stake in shares of Centerra Gold by 7.6% in the 1st quarter. Van ECK Associates Corp now owns 22,034,754 shares of the company’s stock worth $130,191,000 after acquiring an additional 1,552,601 shares during the last quarter. Donald Smith & CO. Inc. raised its stake in Centerra Gold by 8.8% during the first quarter. Donald Smith & CO. Inc. now owns 10,747,290 shares of the company’s stock worth $63,516,000 after purchasing an additional 867,334 shares during the period. Vanguard Group Inc. boosted its holdings in Centerra Gold by 2.8% in the 3rd quarter. Vanguard Group Inc. now owns 8,031,893 shares of the company’s stock valued at $39,356,000 after purchasing an additional 220,263 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Centerra Gold by 8.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,164,687 shares of the company’s stock valued at $18,862,000 after purchasing an additional 247,027 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Centerra Gold by 2.9% in the 4th quarter. Wellington Management Group LLP now owns 3,070,263 shares of the company’s stock valued at $18,418,000 after buying an additional 87,248 shares during the period. Institutional investors and hedge funds own 55.40% of the company’s stock.
Centerra Gold Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Wednesday, May 29th were issued a dividend of $0.051 per share. This represents a $0.20 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend was Wednesday, May 29th. Centerra Gold’s dividend payout ratio is currently 74.07%.
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.
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Insight: Centerra Gold’s Diversified Portfolio
Centerra Gold’s strategic portfolio, encompassing mining operations in North America, Turkey, and other international locations, provides diversification and mitigates risk associated with any single region. This diversification enhances the company’s resilience amid global economic fluctuations and geopolitical uncertainties, making it an attractive investment option for those seeking exposure to the precious metals market.
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