Q1 2024 Earnings Forecast for Centerra Gold Inc. Issued By Desjardins (NYSE:CGAU)

Centerra Gold Inc. (NYSE:CGAU) – Analysts at Desjardins issued their Q1 2024 earnings per share estimates for shares of Centerra Gold in a note issued to investors on Tuesday, April 23rd. Desjardins analyst J. Sclodnick anticipates that the company will post earnings per share of $0.17 for the quarter. The consensus estimate for Centerra Gold’s current full-year earnings is $0.49 per share.

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

Several other equities research analysts have also commented on the company. CIBC boosted their price objective on Centerra Gold from $9.50 to $11.00 and gave the stock an “outperformer” rating in a research note on Monday, April 15th. Raymond James lowered their target price on Centerra Gold from $12.00 to $11.00 and set an “outperform” rating on the stock in a report on Friday, December 29th. BMO Capital Markets began coverage on Centerra Gold in a report on Wednesday, February 21st. They set an “outperform” rating on the stock. Finally, National Bank Financial restated an “outperform overweight” rating on shares of Centerra Gold in a report on Monday, April 8th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Centerra Gold currently has a consensus rating of “Buy” and a consensus target price of $9.78.

Centerra Gold Stock Up 1.0 %

Shares of Centerra Gold stock opened at $6.29 on Thursday. Centerra Gold has a twelve month low of $4.47 and a twelve month high of $7.23. The business has a 50-day moving average price of $5.71 and a 200 day moving average price of $5.57. The firm has a market cap of $1.35 billion, a PE ratio of -16.99 and a beta of 0.98.

Hedge Funds Weigh In On Centerra Gold

Large investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Centerra Gold by 33.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,935 shares of the company’s stock valued at $265,000 after acquiring an additional 13,553 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of Centerra Gold by 91.9% during the third quarter. Mackenzie Financial Corp now owns 3,384,834 shares of the company’s stock worth $15,775,000 after buying an additional 1,621,158 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Centerra Gold by 1.8% during the third quarter. CIBC Asset Management Inc now owns 207,198 shares of the company’s stock worth $1,016,000 after buying an additional 3,640 shares during the period. Versor Investments LP acquired a new stake in shares of Centerra Gold during the third quarter worth about $52,000. Finally, Heartland Advisors Inc. boosted its stake in shares of Centerra Gold by 2.6% during the third quarter. Heartland Advisors Inc. now owns 2,191,300 shares of the company’s stock worth $10,737,000 after buying an additional 55,200 shares during the period. Hedge funds and other institutional investors own 55.40% of the company’s stock.

Centerra Gold Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 13th were issued a $0.0518 dividend. This represents a $0.21 annualized dividend and a yield of 3.30%. The ex-dividend date was Tuesday, March 12th. This is a positive change from Centerra Gold’s previous quarterly dividend of $0.05. Centerra Gold’s dividend payout ratio is -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.