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

Centerra Gold Inc. (NYSE:CGAU) – Investment analysts at Desjardins issued their Q1 2024 earnings estimates for Centerra Gold in a research report issued to clients and investors on Tuesday, April 23rd. Desjardins analyst J. Sclodnick expects that the company will earn $0.17 per share for the quarter. 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 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). Centerra Gold had a positive return on equity of 0.62% and a negative net margin of 7.43%. The business had revenue of $340.00 million for the quarter.

CGAU has been the topic of a number of other research reports. CIBC increased their price objective on shares of Centerra Gold from $9.50 to $11.00 and gave the stock an “outperformer” rating in a report on Monday, April 15th. Raymond James lowered their target price on shares of Centerra Gold from $12.00 to $11.00 and set an “outperform” rating on the stock in a research note on Friday, December 29th. National Bank Financial reissued an “outperform overweight” rating on shares of Centerra Gold in a research note on Monday, April 8th. Finally, BMO Capital Markets assumed coverage on shares of Centerra Gold in a research note on Wednesday, February 21st. They set an “outperform” rating on the stock. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $9.78.

Centerra Gold Stock Up 1.0 %

CGAU stock opened at $6.29 on Thursday. Centerra Gold has a fifty-two week low of $4.47 and a fifty-two week high of $7.23. The firm’s 50-day simple moving average is $5.71 and its 200 day simple moving average is $5.57. The stock has a market cap of $1.35 billion, a PE ratio of -16.99 and a beta of 0.98.

Institutional Trading of Centerra Gold

Several institutional investors have recently made changes to their positions in the stock. U S Global Investors Inc. boosted its holdings in shares of Centerra Gold by 24.1% during the first quarter. U S Global Investors Inc. now owns 978,206 shares of the company’s stock worth $5,780,000 after purchasing an additional 190,203 shares during the period. Wellington Management Group LLP raised its position in shares of Centerra Gold by 2.9% in the fourth quarter. Wellington Management Group LLP now owns 3,070,263 shares of the company’s stock valued at $18,418,000 after purchasing an additional 87,248 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Centerra Gold by 8.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,164,687 shares of the company’s stock worth $18,862,000 after acquiring an additional 247,027 shares during the last quarter. CoreCommodity Management LLC grew its stake in shares of Centerra Gold by 2.7% in the fourth quarter. CoreCommodity Management LLC now owns 348,100 shares of the company’s stock worth $2,085,000 after acquiring an additional 9,000 shares during the last quarter. Finally, Pale Fire Capital SE grew its stake in shares of Centerra Gold by 1,136.9% in the fourth quarter. Pale Fire Capital SE now owns 1,807,787 shares of the company’s stock worth $10,774,000 after acquiring an additional 1,661,638 shares during the last quarter. 55.40% of the stock is currently owned by institutional investors and hedge funds.

Centerra Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 13th were issued a $0.0518 dividend. This represents a $0.21 annualized dividend and a dividend yield of 3.30%. This is a boost from Centerra Gold’s previous quarterly dividend of $0.05. The ex-dividend date was Tuesday, March 12th. Centerra Gold’s dividend payout ratio (DPR) is presently -43.24%.

Centerra Gold Company Profile

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.