Raymond James Brokers Raise Earnings Estimates for Centerra Gold Inc. (NYSE:CGAU)

Centerra Gold Inc. (NYSE:CGAU) – Equities research analysts at Raymond James boosted their Q2 2024 earnings estimates for Centerra Gold in a research note issued to investors on Tuesday, April 23rd. Raymond James analyst B. Macarthur now expects that the company will post earnings of $0.21 per share for the quarter, up from their prior forecast of $0.09. The consensus estimate for Centerra Gold’s current full-year earnings is $0.55 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 subject of a number of other research reports. BMO Capital Markets started coverage on shares of Centerra Gold in a report on Wednesday, February 21st. They issued an “outperform” rating for the company. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Centerra Gold in a report on Monday, April 8th. Finally, CIBC boosted their price target on Centerra Gold from $9.50 to $11.00 and gave the stock an “outperformer” rating in a research note on Monday, April 15th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Centerra Gold has an average rating of “Buy” and a consensus price target of $9.78.

Centerra Gold Stock Performance

Centerra Gold stock opened at $6.36 on Friday. The company has a market cap of $1.37 billion, a P/E ratio of -17.19 and a beta of 0.98. Centerra Gold has a one year low of $4.47 and a one year high of $7.08. The business has a fifty day moving average of $5.73 and a two-hundred day moving average of $5.59.

Centerra Gold (NYSE:CGAU) last posted its quarterly 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 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.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Versor Investments LP acquired a new position in Centerra Gold in the 3rd quarter valued at about $52,000. Heron Bay Capital Management acquired a new position in shares of Centerra Gold in the fourth quarter valued at approximately $77,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Centerra Gold during the fourth quarter valued at approximately $98,000. 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, Insigneo Advisory Services LLC purchased a new stake in Centerra Gold in the 3rd quarter worth approximately $223,000. 55.40% of the stock is currently owned by institutional investors and hedge funds.

Centerra Gold Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 13th were issued a dividend of $0.0518 per share. This is an increase from Centerra Gold’s previous quarterly dividend of $0.05. This represents a $0.21 annualized dividend and a yield of 3.26%. The ex-dividend date was Tuesday, March 12th. Centerra Gold’s dividend payout ratio (DPR) is -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.