Q1 2024 EPS Estimates for Centerra Gold Inc. (NYSE:CGAU) Decreased by Cormark

Centerra Gold Inc. (NYSE:CGAU) – Investment analysts at Cormark dropped their Q1 2024 earnings per share (EPS) estimates for shares of Centerra Gold in a report released on Monday, April 22nd. Cormark analyst R. Gray now anticipates that the company will post earnings per share of $0.13 for the quarter, down from their previous estimate of $0.34. The consensus estimate for Centerra Gold’s current full-year earnings is $0.49 per share.

Centerra Gold (NYSE:CGAU) last issued its earnings results on Thursday, February 22nd. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). The company had revenue of $340.00 million during the quarter. Centerra Gold had a positive return on equity of 0.62% and a negative net margin of 7.43%.

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

Centerra Gold Trading Down 2.0 %

Shares of NYSE:CGAU opened at $6.22 on Wednesday. The company has a market capitalization of $1.34 billion, a PE ratio of -16.80 and a beta of 0.98. Centerra Gold has a 12-month low of $4.47 and a 12-month high of $7.23. The business has a 50 day moving average of $5.68 and a two-hundred day moving average of $5.56.

Hedge Funds Weigh In On Centerra Gold

Hedge funds and other institutional investors have recently made changes to their positions in the company. American Century Companies Inc. lifted its holdings in Centerra Gold by 99.6% in the 3rd quarter. American Century Companies Inc. now owns 1,135,677 shares of the company’s stock valued at $5,552,000 after purchasing an additional 566,652 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Centerra Gold by 2.8% in the third quarter. Vanguard Group Inc. now owns 8,031,893 shares of the company’s stock valued at $39,356,000 after buying an additional 220,263 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Centerra Gold by 818.1% in the third quarter. Deutsche Bank AG now owns 169,704 shares of the company’s stock worth $832,000 after buying an additional 151,220 shares in the last quarter. Hsbc Holdings PLC boosted its position in Centerra Gold by 134.2% during the third quarter. Hsbc Holdings PLC now owns 35,587 shares of the company’s stock worth $174,000 after acquiring an additional 20,389 shares during the last quarter. Finally, Mackenzie Financial Corp grew 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 acquiring an additional 1,621,158 shares in the last quarter. Hedge funds and other institutional investors own 55.40% of the company’s stock.

Centerra Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 13th were paid a $0.0518 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This is a positive change from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.21 dividend on an annualized basis and a yield of 3.33%. Centerra Gold’s dividend payout ratio (DPR) is currently -43.24%.

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.