Centerra Gold (NYSE:CGAU) Downgraded by Cormark to “Hold”

Cormark downgraded shares of Centerra Gold (NYSE:CGAU) from a moderate buy rating to a hold rating in a report released on Wednesday,Zacks.com reports. Cormark also issued estimates for Centerra Gold’s Q1 2025 earnings at $0.09 EPS, Q3 2025 earnings at $0.09 EPS and FY2026 earnings at $0.61 EPS.

Several other research firms have also recently weighed in on CGAU. Scotiabank lowered their price target on Centerra Gold from $10.00 to $9.00 and set a “sector outperform” rating on the stock in a report on Wednesday, January 15th. Desjardins downgraded Centerra Gold from a “moderate buy” rating to a “hold” rating in a report on Thursday, February 13th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $11.00.

Centerra Gold Stock Performance

Shares of NYSE:CGAU opened at $6.00 on Wednesday. The business has a 50-day simple moving average of $6.08 and a two-hundred day simple moving average of $6.50. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 16.67 and a beta of 0.91. Centerra Gold has a fifty-two week low of $4.90 and a fifty-two week high of $7.82.

Centerra Gold (NYSE:CGAU) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.03). Centerra Gold had a net margin of 6.62% and a return on equity of 8.83%. The company had revenue of $302.40 million for the quarter, compared to analysts’ expectations of $316.92 million. As a group, research analysts predict that Centerra Gold will post 0.59 earnings per share for the current year.

Centerra Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 4.67%. This is a positive change from Centerra Gold’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Thursday, March 13th. Centerra Gold’s dividend payout ratio (DPR) is presently 52.78%.

Hedge Funds Weigh In On Centerra Gold

Several large investors have recently modified their holdings of the stock. Donald Smith & CO. Inc. lifted its position in Centerra Gold by 30.1% in the fourth quarter. Donald Smith & CO. Inc. now owns 8,723,060 shares of the company’s stock worth $49,634,000 after buying an additional 2,017,756 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Centerra Gold by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 8,254,618 shares of the company’s stock worth $46,977,000 after acquiring an additional 76,544 shares during the period. Royal Bank of Canada increased its position in shares of Centerra Gold by 7.2% during the fourth quarter. Royal Bank of Canada now owns 7,950,409 shares of the company’s stock worth $45,238,000 after acquiring an additional 530,601 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Centerra Gold by 24.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,808,773 shares of the company’s stock valued at $33,028,000 after acquiring an additional 1,126,825 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Centerra Gold by 36.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,390,005 shares of the company’s stock valued at $31,514,000 after purchasing an additional 1,175,000 shares during the period. Institutional investors own 55.40% of the company’s stock.

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.