Zacks: Analysts Expect Centerra Gold Inc. (NYSE:CGAU) Will Announce Earnings of $0.07 Per Share

Brokerages forecast that Centerra Gold Inc. (NYSE:CGAUGet Rating) will announce earnings of $0.07 per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Centerra Gold’s earnings. The highest EPS estimate is $0.13 and the lowest is $0.02. Centerra Gold reported earnings per share of $0.17 during the same quarter last year, which would suggest a negative year-over-year growth rate of 58.8%. The company is expected to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Centerra Gold will report full-year earnings of $0.68 per share for the current year, with EPS estimates ranging from $0.58 to $0.77. For the next year, analysts anticipate that the business will report earnings of $0.72 per share, with EPS estimates ranging from $0.67 to $0.75. Zacks’ earnings per share averages are an average based on a survey of research analysts that cover Centerra Gold.

Centerra Gold (NYSE:CGAUGet Rating) last posted its quarterly earnings results on Friday, February 25th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). The company had revenue of $251.10 million during the quarter. Centerra Gold had a positive return on equity of 9.21% and a negative net margin of 47.44%.

Several research analysts recently commented on CGAU shares. Zacks Investment Research raised shares of Centerra Gold from a “sell” rating to a “hold” rating in a research note on Tuesday, May 3rd. Scotiabank raised their target price on shares of Centerra Gold from C$12.50 to C$14.00 in a research report on Tuesday, April 5th. National Bank Financial raised their target price on shares of Centerra Gold from C$14.50 to C$16.00 in a research report on Wednesday, April 20th. Canaccord Genuity Group raised their target price on shares of Centerra Gold from C$12.50 to C$12.75 and gave the company a “buy” rating in a research report on Tuesday, March 1st. Finally, TD Securities cut their target price on shares of Centerra Gold from C$14.50 to C$14.00 in a research report on Friday, May 6th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $12.56.

CGAU stock opened at $8.45 on Friday. The company has a market capitalization of $2.51 billion and a PE ratio of -5.45. Centerra Gold has a 12 month low of $6.64 and a 12 month high of $10.57. The firm’s 50-day moving average is $9.37 and its 200 day moving average is $8.60.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 1st. Stockholders of record on Wednesday, May 18th will be issued a $0.054 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date is Tuesday, May 17th. Centerra Gold’s dividend payout ratio is currently -14.19%.

Several large investors have recently added to or reduced their stakes in CGAU. Quadrature Capital Ltd acquired a new stake in Centerra Gold in the 3rd quarter worth approximately $1,309,000. Toronto Dominion Bank boosted its stake in Centerra Gold by 1.2% in the 4th quarter. Toronto Dominion Bank now owns 185,244 shares of the company’s stock worth $1,428,000 after purchasing an additional 2,211 shares in the last quarter. National Bank of Canada FI acquired a new stake in Centerra Gold in the 4th quarter worth approximately $122,000. Wellington Management Group LLP boosted its stake in Centerra Gold by 13.9% in the 3rd quarter. Wellington Management Group LLP now owns 2,950,009 shares of the company’s stock worth $20,142,000 after purchasing an additional 361,108 shares in the last quarter. Finally, Versor Investments LP boosted its stake in Centerra Gold by 10.0% in the 4th quarter. Versor Investments LP now owns 150,101 shares of the company’s stock worth $1,158,000 after purchasing an additional 13,668 shares in the last quarter. Institutional investors and hedge funds own 37.38% of the company’s stock.

About Centerra Gold (Get Rating)

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 include 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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Earnings History and Estimates for Centerra Gold (NYSE:CGAU)

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