Q2 2024 EPS Estimates for Centerra Gold Inc. (NYSE:CGAU) Boosted by Raymond James

Centerra Gold Inc. (NYSE:CGAU) – Stock analysts at Raymond James increased their Q2 2024 EPS estimates for Centerra Gold in a note issued to investors on Tuesday, April 23rd. Raymond James analyst B. Macarthur now forecasts that the company will post earnings per share of $0.21 for the quarter, up from their previous estimate of $0.09. Raymond James has a “Outperform” rating and a $11.00 price target on the stock. The consensus estimate for Centerra Gold’s current full-year earnings is $0.49 per share. Raymond James also issued estimates for Centerra Gold’s Q3 2024 earnings at $0.13 EPS, Q4 2024 earnings at $0.13 EPS and FY2024 earnings at $0.57 EPS.

CGAU has been the topic of several other research reports. CIBC lifted their target price on shares of Centerra Gold from $9.50 to $11.00 and gave the company an “outperformer” rating in a research report on Monday, April 15th. National Bank Financial reiterated an “outperform overweight” rating on shares of Centerra Gold in a research report on Monday, April 8th. Finally, BMO Capital Markets assumed coverage on shares of Centerra Gold in a research report on Wednesday, February 21st. They issued an “outperform” rating on the stock. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $9.78.

Centerra Gold Stock Up 1.1 %

Shares of NYSE CGAU opened at $6.36 on Friday. The company’s 50-day simple moving average is $5.73 and its 200-day simple moving average is $5.58. Centerra Gold has a 52-week low of $4.47 and a 52-week high of $7.08. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of -17.19 and a beta of 0.98.

Centerra Gold (NYSE:CGAU) last announced its earnings results on Thursday, February 22nd. The company reported $0.28 earnings per share (EPS) 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 company had revenue of $340.00 million during the quarter.

Hedge Funds Weigh In On Centerra Gold

Several hedge funds and other institutional investors have recently modified their holdings of the business. Versor Investments LP purchased a new position in Centerra Gold during the third quarter worth about $52,000. Heron Bay Capital Management purchased a new position in Centerra Gold during the fourth quarter worth about $77,000. Dynamic Technology Lab Private Ltd purchased a new position in Centerra Gold during the fourth quarter worth about $98,000. Hsbc Holdings PLC raised its stake 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 purchasing an additional 20,389 shares during the period. Finally, Insigneo Advisory Services LLC purchased a new position in Centerra Gold during the third quarter worth about $223,000. 55.40% of the stock is owned by hedge funds and other institutional investors.

Centerra Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 13th were paid a $0.0518 dividend. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.21 annualized dividend and a dividend yield of 3.26%. The ex-dividend date was Tuesday, March 12th. 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.