National Bank Financial Comments on Centerra Gold Inc.’s Q1 2024 Earnings (NYSE:CGAU)

Centerra Gold Inc. (NYSE:CGAU) – Research analysts at National Bank Financial issued their Q1 2024 earnings per share (EPS) estimates for Centerra Gold in a research report issued to clients and investors on Thursday, April 18th. National Bank Financial analyst M. Parkin anticipates that the company will earn $0.16 per share for the quarter. National Bank Financial currently has a “Outperform Overweight” rating on the stock. The consensus estimate for Centerra Gold’s current full-year earnings is $0.51 per share. National Bank Financial also issued estimates for Centerra Gold’s FY2025 earnings at $0.34 EPS.

Centerra Gold (NYSE:CGAU) last announced 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). Centerra Gold had a negative net margin of 7.43% and a positive return on equity of 0.62%. The firm had revenue of $340.00 million for the quarter.

A number of other brokerages have also recently commented on CGAU. CIBC increased their target price on Centerra Gold from $9.50 to $11.00 and gave the company an “outperformer” rating in a report on Monday, April 15th. BMO Capital Markets began coverage on Centerra Gold in a research report on Wednesday, February 21st. They issued an “outperform” rating for the company. Finally, Raymond James dropped their price target on Centerra Gold from $12.00 to $11.00 and set an “outperform” rating for the company in a research report on Friday, December 29th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $9.78.

Centerra Gold Price Performance

Shares of Centerra Gold stock opened at $6.34 on Monday. The business has a 50 day simple moving average of $5.66 and a two-hundred day simple moving average of $5.56. Centerra Gold has a 12 month low of $4.47 and a 12 month high of $7.23. The stock has a market capitalization of $1.36 billion, a P/E ratio of -17.13 and a beta of 0.98.

Centerra Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 13th were given a $0.0518 dividend. This represents a $0.21 annualized dividend and a yield of 3.27%. This is a positive change from Centerra Gold’s previous quarterly dividend of $0.05. The ex-dividend date was Tuesday, March 12th. Centerra Gold’s dividend payout ratio is presently -43.24%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp grew its position in Centerra Gold by 1.2% in the fourth quarter. Van ECK Associates Corp now owns 20,482,153 shares of the company’s stock worth $122,339,000 after acquiring an additional 244,155 shares during the period. Donald Smith & CO. Inc. grew its position in Centerra Gold by 27.9% in the fourth quarter. Donald Smith & CO. Inc. now owns 9,879,956 shares of the company’s stock worth $58,885,000 after acquiring an additional 2,156,920 shares during the period. Ruffer LLP boosted its position in shares of Centerra Gold by 18.5% during the third quarter. Ruffer LLP now owns 8,547,150 shares of the company’s stock worth $42,371,000 after buying an additional 1,331,400 shares during the period. Vanguard Group Inc. boosted its position in shares of Centerra Gold by 2.8% during the third quarter. Vanguard Group Inc. now owns 8,031,893 shares of the company’s stock worth $39,356,000 after buying an additional 220,263 shares during the period. Finally, Mackenzie Financial Corp boosted its position 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. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

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.