FY2024 EPS Estimates for Centerra Gold Lifted by Scotiabank

Centerra Gold Inc. (NYSE:CGAU) – Investment analysts at Scotiabank increased their FY2024 earnings estimates for shares of Centerra Gold in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst O. Habib now expects that the company will post earnings of $0.75 per share for the year, up from their previous estimate of $0.69. The consensus estimate for Centerra Gold’s current full-year earnings is $0.79 per share. Scotiabank also issued estimates for Centerra Gold’s FY2026 earnings at $0.63 EPS.

Separately, Desjardins upgraded Centerra Gold to a “moderate buy” rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $11.00.

Centerra Gold Stock Performance

Shares of Centerra Gold stock opened at $5.86 on Friday. Centerra Gold has a fifty-two week low of $4.47 and a fifty-two week high of $7.82. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 12.21 and a beta of 0.90. The stock has a 50 day moving average of $5.95 and a 200 day moving average of $6.61.

Centerra Gold (NYSE:CGAU) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02). The firm had revenue of $323.93 million during the quarter. Centerra Gold had a net margin of 8.31% and a return on equity of 10.34%. During the same period last year, the business posted $0.20 earnings per share.

Centerra Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were given a dividend of $0.052 per share. This is a positive change from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.21 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend was Wednesday, November 13th. Centerra Gold’s dividend payout ratio (DPR) is currently 41.67%.

Hedge Funds Weigh In On Centerra Gold

Several institutional investors have recently bought and sold shares of CGAU. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Centerra Gold by 36.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,390,005 shares of the company’s stock valued at $31,514,000 after acquiring an additional 1,175,000 shares in the last quarter. Jane Street Group LLC raised its position in Centerra Gold by 145.6% in the 3rd quarter. Jane Street Group LLC now owns 419,992 shares of the company’s stock valued at $3,015,000 after purchasing an additional 249,004 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Centerra Gold by 378.7% in the 3rd quarter. Geode Capital Management LLC now owns 454,939 shares of the company’s stock valued at $4,152,000 after buying an additional 359,905 shares during the period. Renaissance Technologies LLC grew its position in shares of Centerra Gold by 29.0% during the second quarter. Renaissance Technologies LLC now owns 327,800 shares of the company’s stock worth $2,203,000 after buying an additional 73,600 shares in the last quarter. Finally, Old West Investment Management LLC purchased a new stake in shares of Centerra Gold during the second quarter worth approximately $1,344,000. 55.40% of the stock is owned by institutional investors and hedge funds.

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.