Raymond James Analysts Decrease Earnings Estimates for Centerra Gold Inc. (TSE:CG)

Centerra Gold Inc. (TSE:CG – Get Rating) – Equities researchers at Raymond James dropped their Q2 2023 earnings per share (EPS) estimates for shares of Centerra Gold in a research report issued to clients and investors on Monday, May 15th. Raymond James analyst B. Macarthur now forecasts that the company will post earnings of ($0.08) per share for the quarter, down from their previous forecast of $0.08. Raymond James has a “Market Perform” rating and a $11.00 price objective on the stock. The consensus estimate for Centerra Gold’s current full-year earnings is $0.60 per share. Raymond James also issued estimates for Centerra Gold’s FY2023 earnings at ($0.05) EPS, Q1 2024 earnings at $0.19 EPS, Q2 2024 earnings at $0.20 EPS, Q3 2024 earnings at $0.23 EPS, Q4 2024 earnings at $0.26 EPS and FY2024 earnings at $0.88 EPS.

Centerra Gold (TSE:CG – Get Rating) last posted its quarterly earnings results on Thursday, February 23rd. The company reported C($0.08) EPS for the quarter, topping analysts’ consensus estimates of C($0.12) by C$0.04. The company had revenue of C$282.82 million during the quarter. Centerra Gold had a negative return on equity of 12.49% and a negative net margin of 30.72%.

Other equities analysts have also recently issued research reports about the company. CIBC lowered their target price on Centerra Gold from C$12.00 to C$11.00 in a report on Tuesday. Canaccord Genuity Group decreased their price target on Centerra Gold from C$12.00 to C$9.50 in a research note on Tuesday. National Bankshares decreased their price target on Centerra Gold from C$13.00 to C$12.50 and set an “outperform” rating for the company in a research note on Thursday. Bank of America increased their price target on Centerra Gold from C$6.30 to C$7.50 in a research note on Wednesday, April 5th. Finally, CSFB decreased their price target on Centerra Gold from C$9.25 to C$9.00 in a research note on Thursday, March 2nd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$9.55.

Centerra Gold Price Performance

Shares of CG opened at C$7.09 on Thursday. Centerra Gold has a 12-month low of C$5.18 and a 12-month high of C$11.02. The business has a 50-day simple moving average of C$9.02 and a two-hundred day simple moving average of C$8.12. The company has a quick ratio of 3.24, a current ratio of 4.00 and a debt-to-equity ratio of 0.77. The stock has a market cap of C$1.55 billion, a PE ratio of -20.26, a PEG ratio of 1.26 and a beta of 0.98.

Centerra Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 12th. Investors of record on Monday, May 29th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, May 26th. This represents a $0.28 annualized dividend and a yield of 3.95%. Centerra Gold’s dividend payout ratio is currently -80.00%.

Centerra Gold Company Profile

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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.